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BRIEF-Eltel signs letter of intent to divest Power Transmission International
September 25, 2017 / 4:07 PM / 3 months ago

BRIEF-Eltel signs letter of intent to divest Power Transmission International

Sept 25 (Reuters) - Eltel AB

* Eltel signs a letter of intent to divest Power Transmission International

* Eltel AB says contemplated transaction agreement includes sale of all Eltel’s shares in Eltel Networks Te Ab (TEAB) and its subsidiaries

* Signing and completion of transaction is expected to occur before end of 2017

* Eltel AB says transaction is estimated to have approximately eur 9.0 million negative impact in total on group’s third and fourth-quarter EBITA

* Estimates maximum cash-flow impact will be about EUR 20 million negative, main part will be recorded during remainder of 2017

* Total cost for divestment is expected to be lower than estimated ramp down cost of EUR 40 million Source text for Eikon: Further company coverage:

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