EU clears Siemens’ Osram to buy Siteco
News from Reuters:

BRUSSELS, June 23 | Thu Jun 23, 2011 3:24am EDT

(Reuters) – German engineering company
Siemens (SIEGn.DE) won EU approval on Thursday for its Osram
light bulb unit to buy Siteco Lighting GmbH to boost its
presence in the energy-efficient lighting market.

Siemens, which announced the deal in February, has not
disclosed the price paid. [ID:nFAB015940]

Siteco, whose products light up the Allianz Arena soccer
stadium in Munich, Barajas Airport in Madrid and the world’s
tallest building in Taiwan, made about 220 million euros ($ 302.8
million) in 2010 revenues.

The European Commission, the EU competition watchdog, said
the merged entities’ market shares on a downstream m…………… continues on Reuters
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