Osram CFO Ingo Bank doused rumors fueled in late 2016 about acquisition talks with Chinese investor Go Scale Capital during an interview with Bloomberg recently.

There has been widespread market speculation dating back to Sept. 12, 2016 about German lighting giant’s largest shareholder Siemens intention to sell its stake in Osram to Chinese investor Go Scale Capital, but by the end of the year growing Germany’s largest labor union IG Metall objected to a Chinese takeover. The union even pressured Osram to keep German lighting factory jobs.

In the interview, Bank stated nothing was complete at the time, and the company was “happy with current shareholder base.”

During the interview, the Osram CFO noted financing from current shareholder base was adequate for most of its R&D investment endeavors, and the company could consider future acquisitions to strengthen its lighting and control business, automotive lighting, and electronics and software. Bank did not name the companies that Osram intended to acquire.

Setting targets for 2020, Osram aims to complete the transition from a lighting company into a high-tech company following the sales of its lower margin general lighting business LEDVANCE.

Following the restructure, Osram will retain its top three technology companies, which are each respectively rank among the top three leaders in their industry, such as its LED chip and component business Osram Opto, Specialty Lighting, and others.

Osram intends to achieve an average revenue growth of 7% to 9% by 2020, which would bring its revenue base to EUR 5 billion (US $5.27 billion), and double its Earnings per Share (EPS), said Bank.

Meanwhile, increasingly protectionist policies and tariffs rolled out by global governments is projected to have limited impact on the international lighting company, which has local manufacturing bases in the regional markets it targets, such as in U.S., Asia, and Europe, he added.

Articles for further reading:

1. [Update] Siemens Might Not Sell Stake in Osram
2. Analyses of Asian Buyer's Benefits from Acquiring Siemens Stake in Osram
3. [Breaking News] Siemens Considers Selling Stake in Osram
4. Germany’s Biggest Labor Union to Block Chinese Investors Takeover of Osram
5. [Update] Government Policy Undertones in Chinese Investors Interests in Acquiring Osram
6. Continental Offers to Purchase Siemen’s Stake in Osram
7. Roadblocks Ahead of San’an Opto’s Bid for Osram