Osram’s transformation is making further progress: the company has agreed to sell its 13.5% stake in the Chinese company Foshan Electrical and Lighting (Felco) to a subsidiary of Guangdong Rising Assets Management With this move, Osram will dispose of a non-strategic investment. The agreed selling price is more than EUR 350 million (US $392.51 million), which corresponds to a premium of more than 30% over the current share price. Osram expects to have a pre-tax gain of around EUR 300 million from the transaction, which is expected to be booked in fiscal 2016.