October 4, 2017 / 4:16 PM / in 10 months

Germany's Siemens to sell stake in Osram Licht

BERLIN, Oct 4 (Reuters) - German engineering firm Siemens has decided to sell its 17 percent stake in lighting group Osram Licht to institutional investors.

Siemens said in a statement on Wednesday that the net proceeds from the sale will be used for general corporate purposes and added it would retain a small number of Osram shares to service a Siemens bond plus warrant issue due 2019.

There has been repeated speculation about a possible takeover of Osram, including by Chinese investors.

Osram is a market leader in automotive lighting, and is developing new products including smart LED headlights and special laser diodes needed for sensor systems in self-driving cars.

Reporting by Emma Thomasson; editing by Alexander Smith

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