Telefonaktiebolaget LM Ericsson (publ) (ERIC – Free Report) recently announced that it has inked an agreement with Singapore-based power-supply products provider, Flex, to divest its Ericsson Power Modules (EPM) business. The transaction, subject to customary closing conditions and regulatory approvals, is scheduled to close in third-quarter 2017.
The deal marks the first exit of assets initiated by the company under its elaborate restructuring plan. Introduced in March, the main objective of the plan is to focus on selective core areas. In addition, a recent article in Bloomberg reported that the company is most likely hiring major banks to explore options for the divesture of its media business. These include Goldma…
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