Alcatel-Lucent closes sale of Alcatel-Lucent Enterprise to China Huaxin
PARIS, France, October 29, 2014/African Press Organization (APO)/ -- Alcatel-Lucent (Euronext Paris and NYSE: ALU) (http://www.alcatel-lucent.com) 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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ABOUT ALCATEL-LUCENT (EURONEXT PARIS AND NYSE: ALU) (HTTP://WWW.ALCATEL-LUCENT.COM):
We are at the forefront of global communications, providing products and innovations in IP and cloud networking, as well as ultra-broadband fixed and wireless access to service providers and their customers, and to enterprises and institutions throughout the world. Underpinning us in driving the industrial transformation from voice telephony to high-speed digital delivery of data, video and information is Bell Labs, an integral part of the Group and one of the world's foremost technology research institutes, responsible for countless breakthroughs that have shaped the networking and communications industry. Our innovations have resulted in our Group being recognized by Thomson Reuters as a Top 100 Global Innovator, as well as being named by MIT Technology Review as amongst 2012's Top 50 “World's Most Innovative Companies”. We have also been recognized for innovation in sustainability, being named Industry Group Leader in the Technology Hardware & Equipment sector in the 2014 Dow Jones Sustainability Indices review, for making global communications more sustainable, affordable and accessible, all in pursuit of the Group's mission to realize the potential of a connected world.
With revenues of Euro 14.4 billion in 2013, Alcatel-Lucent is listed on the Paris and New York stock exchanges (Euronext and NYSE: ALU). The company is incorporated in France and headquartered in Paris.
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