In February, GE Lighting announced the sale of its business in Europe, the Middle East, Africa and Turkey, as well as its Global Automotive business, to an entity controlled by Joerg Bauer, a former GE executive. The first milestone sale was realized in April 2018, when Tungsram Group assumed ownership of Tungsram Operations Kft., which included GE Lighting’s Hungary-based operations, employees, assets and contracts. The transition of international entities to Tungsram Group has been completed by November. 23 legal entities in 22 countries have joined the headquarter in Hungary, while the 5,000 company headcount has been expanded with 106 ex-GE Lighting employees.
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