Alcatel-Lucent has announced that it has closed the sale of its subsidiary Alcatel-Lucent Enterprise to China Huaxin Post & Telecommunication Economy Development Center for a fee of around $254 million.
As previously announced, Alcatel-Lucent will retain a 15% minority stake in the communications and networking solutions 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 its 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 €1 billion and generating at least €1 billion through selective asset sales by the end of 2015.
China Huaxin Post & Telecommunication Economy Development Center (China Huaxin) is an industrial ICT investment company that seeks.
