San'an Optoelectronics Terminates $239M Lumileds Acquisition Over U.S. National Security Concerns

Gate News message, April 17 — San'an Optoelectronics announced the termination of its planned acquisition of 100% equity stake in Lumileds Holding B.V. for $239 million, in partnership with overseas investors. The U.S. Committee on Foreign Investment in the United States (CFIUS) determined the transaction posed unresolvable national security risks and required the parties to withdraw the filing and abandon the deal.

Since the closing conditions could not be satisfied, all parties voluntarily withdrew from the transaction. The company has not made any payment for the equity transfer, and the target equity has not been delivered. San'an Optoelectronics stated the termination does not constitute a breach of contract and will not have material adverse effects on its financial condition, operational continuity, or normal business operations.