Friday, 23 June 2017

Alcatel-Lucent closes sale of Alcatel-Lucent Enterprise to China Huaxin

Alcatel-Lucent
Thursday 30 October 14

Alcatel-Lucent announced today that it has closed the sale of its subsidiary Alcatel-Lucent Enterprise to China Huaxin Post & Telecommunication Economy Development Center…

Alcatel-Lucent announced today that it has closed the sale of its subsidiary Alcatel-Lucent Enterprise to China Huaxin Post & Telecommunication Economy Development Center. Cash proceeds to Alcatel-Lucent are Eur 202 million.

 

As previously announced, Alcatel-Lucent will retain a 15% minority stake in the divested business, as well as maintaining a commercial relationship with it in support of its growth ambitions under new ownership.

 

The divestment of Alcatel-Lucent Enterprise forms part of Alcatel-Lucent’s commitments under The Shift Plan, launched in June 2013, to refocus itself as a specialist in IP, Cloud and Ultra-Broadband Access, while realigning its balance sheet, implementing cost savings of Euro 1 billion and generating at least Euro 1 billion through selective asset sales by the end of 2015.

 

Alcatel-Lucent Enterprise is a world leader in communications and networking solutions for businesses of allsizes, serving more than 500,000 customers worldwide.

 

China Huaxin Post & Telecommunication Economy Development Center (“China Huaxin” ) is an industrial investment company that seeks long-term commercial growth opportunities in the Information and Communications Technologies (ICT) sector.

 

Distributed by APO (African Press Organization) on behalf of Alcatel-Lucent.


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