Halonix acquires 100% shareholding of International Lamps Holding Company

Phoenix Lamps Ltd. - (Amalgamated) | Auto Ancillary | Automobiles | BSE: 517296 | NSE: PHOENIXLL

19 Dec 2012 Evaluate

Halonix has completed the acquisition of 100 percent shareholding of Luxembourg-based International Lamps Holding Company SA. With this acquisition, the company has acquired the assets and business of its distributors (Luxlite Lamps Sarl and Trifa Lamps Germany Gmbh) in Europe, including of brands 'Lumlamps' and 'Trifa'. Post acquisition, International Lamps Holding became a 100 percent wholly-owned subsidiary of Halonix.

Earlier, company had received an approval for acquisition of 100% shareholding of International Lamps Holding Company, SA, Luxembourg. The board at its meeting held on October 12, 2012 has approved for the same. Besides, the board also authorized execution of share purchase agreement and related documents to give effect to the acquisition. The acquisition will become effective on the parties completing the conditions precedent that may be stipulated in the share purchase agreement and obtaining statutory approvals that may be required.

With this acquisition, the company will gain control of Luxlite Lamps Sarl, Luxembourg and Trifa Lamps, Gmbh, the two companies who are engaged in the business of distribution of halogen lamps and other bulbs associated with automotive industry in international markets.

Halonix, previously known a Phoenix Lamps, was promoted in the year 1991 as an Indo- Japanese joint venture. It is counted amongst the most preferred manufacturers and suppliers of compact fluorescent lamps for general lighting and halogen lamps for automotive.