Global law firm Freshfields is advising ams OSRAM, a global leader in innovative light and sensor solutions, on the sale of its Entertainment and Industry Lamps (ENI) business to Ushio Inc., headquartered in Tokyo, Japan. The transaction is expected to close until end of March 2026, subject to typical closing procedures. The purchase price of EUR 114m is on a cash-and-debt-free basis. Net deal proceeds will be determined upon final closing accounts as of closing.

ENI’s product portfolio ranges from specialty lamps for infrastructure and cinema applications to extremely sophisticated light sources for semiconductor wafer fabrication equipment (WFE). The profitable ENI business delivered revenues of approx. EUR 170m in 2024. As part of the business, approx. 500 employees will transition to Ushio Inc. The transaction is an important part of ams OSRAM’s deleveraging plan that was announced on 30 April 2025.

Ushio Inc., a global leader in the field of optical technologies, has approx. 6,000 employees and provides light units, equipment, systems, and services through developing new light sources and developing and applying proprietary optical technology, serving a multitude of industrial segments.

The Freshfields team is led by Counsel Arne Constantin-Krawinkel (Frankfurt) together with Partner Christoph H. Seibt (Hamburg, both Corporate/M&A). The team further comprises:

Partners: Philipp Dohnke (Commercial/M&A, Hamburg), Frank Montag (Antitrust, Brussels), Alexander Schwahn (Tax, Hamburg), Gerrit Beckhaus (Real Estate, Hamburg) and Yuxin Shen (Corporate, Beijing)

Counsel: Marius Scherb (Commercial/M&A, Hamburg)

Principal Associates: Maximilian Berenbrok (Corporate/M&A, Hamburg) and Christoph Wanek (Antitrust, Vienna)

Associates: Alexandra Harf and Kristin Kapral (both Corporate/M&A, Hamburg), Jan Kothe (Tax, Hamburg), Leonhard Ackermann (Real Estate, Hamburg), Dina Madadi (Antitrust, Brussels) and Anqi Yu (Corporate, Beijing).