Lumileds completes financial restructuring and emerges from Chapter 11

LED product and lighting maker Lumileds Holding B.V. of San Jose, CA, USA has completed its financial restructuring and emerged from Chapter 11, having significantly de-leveraged its balance sheet and improved liquidity (reducing its funded debt by about $1.4bn). The firm is now owned by a new group of long-term institutional investors, including Anchorage Capital Group LLC, Nut Tree Capital Management LP and Cerberus Capital Management LP...