NKT Holding A/S to Acquire Ericsson’s Power Cable Operations through NKT Cables
NKT Holding A/S announced that NKT Cables has signed a conditional purchase agreement with Ericsson concerning an acquisition of Ericsson’s power cable operations (Energy Business). The transaction is subject to relevant regulatory approval and is expected to be completed at the beginning of Q3 2013. The total consideration amounts to SEK 250 million, equivalent to approximately DKK 220 million (enterprise value). Ericsson’s Energy Business is a supplier of medium voltage products to the Nordic utility groups. The company realized revenue in market prices of approximately DKK 1.3 billion in 2012. Further announcement are expected to be published when relevant authority approvals are received.
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