Printer Friendly

Ericsson wraps up buyout of GDNT operations in China.


Swedish telecom equipment provider Ericsson (STO:ERIC B) on Thursday said it had closed the acquisition of some operations of Guangdong Nortel Telecommunication Equipment Co (GDNT), aiming to enhance its capabilities in China.

The deal was announced on 1 December 2010, when the buyer said it would pay USD50m (EUR35.3m) for the assets, subject to balance sheet adjustments.

The operations, part of this deal, include GDNT's R&D and manufacturing facilities as well as support and customer services in China. The acquired business will operate as a separate entity within the group under the name Ericsson (Guangdong Shunde) Communications Company Limited effective today, Ericsson said.

The buyer added that it would integrate some 1,000 former GDNT employees in the coming months.

SEB Enskilda advised Ericsson in this deal.Country: , ChinaSector: Telecommunications, Business and Consumer ServicesTarget: GDNT R&D, manufacturing and services operations in ChinaBuyer: Telefonaktiebolaget LM EricssonVendor: Guangdong Nortel Telecommunication Equipment Company LtdDeal size in USD: 50mType: Corporate acquisitionStatus: ClosedBuyer advisor: SEB Enskilda

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:May 12, 2011
Previous Article:Deutsche Boerse could face shareholders protests on NYSE deal today.
Next Article:Hana's board to meet on KEB deal Friday, after new regulatory delay.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters