Alcatel Lucent SA sells LGS Innovations LLC to Madison Dearborn Partners and CoVant
Alcatel Lucent SA:Says it has signed a definitive agreement for the sale of its subsidiary, LGS Innovations LLC, to a US-based company owned by a Madison Dearborn Partners-led investor group that includes CoVant.Says the cash transaction will comprise a total amount of up to $200 million, of which 50 percent will be paid at closing, and up to 50 percent in a subsequent variable component to be determined on the divested company's results for the 2014 fiscal year.Says closing of the transaction is targeted to occur in the first quarter of 2014.
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