Competition authorities approve Elcoteq's divestment of industrial electronics business activities
Apr 07, 2004
The competition authorities have given their approval to the arrangement announced on February 27, 2004 whereby Elcoteq will divest its industrial electronics business activities. The buyer is Enics AG, a new company formed by Ahlström Capital Oy and the former management of Elcoteq's industrial electronics business. Following the approvals by competition authorities the transaction has now been closed according to the original plan. The financial implications of the transaction will take effect retroactively on April 1, 2004.