Alcatel-Lucent sells share in Draka Comteq
DECEMBER 18, 2007 -- Alcatel-Lucent has sold its 49.9% share in Draka Comteq against payment of an aggregate cash purchase price of €Â 209 million.
DECEMBER 18, 2007 -- Alcatel-Lucent (search for Alcatel-Lucent) has reached an agreement with Draka Holding N.V. to sell its 49.9% share in Draka Comteq B.V. (search for Draka Comteq) against payment of an aggregate cash purchase price of €Â 209 million.
Under this transaction, Draka acquires full ownership of Draka Comteq. DrakaÂ Comteq B.V., supplier of optical fiber and optical fiber cable, was created onÂ July 1, 2004, by combining the worldwide optical fiber and communication cable activities of Draka and Alcatel-Lucent. Since the initial establishment of the joint venture, Draka Comteq has been controlled by Draka, and its results have been consolidated in full in the Draka consolidated financial statements.
The transaction is expected to be completed by the end of 2007.