China Huaxin Post & Telecommunication Economy Development Center has acquired Alcatel-Lucent Enterprise for EUR 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.
Alcatel-Lucent Enterprise, which has its headquarters in Paris, has over 2,700 employees worldwide and operations in more than 80 countries.
Alcatel-Lucent said the divestment of this division follows 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.
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.
YUAN Xin, President, China Huaxin said: “We are really excited by the acquisition of Alcatel-Lucent Enterprise. Our long-term investment approach will help Alcatel-Lucent Enterprise deliver on its ambition while enabling us to strengthen our strategic position in the enterprise communications arena. Alcatel-Lucent Enterprise has very strong assets and a recognized leadership in many markets across the globe. We are looking forward to leveraging our investment capabilities and experience to bring this business to the next level, both in size and market outreach.”
