Paris, France – Alcatel-Lucent (Euronext Paris and NYSE: ALU) announced that it has closed the sale of its subsidiary Alcatel-Lucent Enterprise to China Huaxin Post & Telecommunication Economy Development Centre. Cash proceeds to Alcatel-Lucent are €202 million.
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 €1 billion and generating at least €1 billion through selective asset sales by the end of 2015.
Alcatel-Lucent Enterprise is a communications and networking solution company for businesses of all sizes, 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.