NKT inks deal for divestment of Photonics

NKT has signed an agreement to sell its Photonics divsion in a sale worth more than EUR 200m.

Photo: NKT

Danish cable manufacturer NKT has struck a deal to divest NKT Photonics, which develops photoelectric devices and products, to Photonics Management Europe at EUR 205m.

The divestment concludes the strategic review of alternatives for NKT Photonics with the aim of optimizing value creation and positioning both NKT and NKT Photonics for long-term growth.

The divestment is subject to customary regulatory approvals expected to come through by the end of Q1 2023.

Along with the previous divestment of subsidiary LIOS, this agreement completes the divestment of NKT Photonics for a total enterprise value of EUR 225m, writes NKT in a press release.

It also marks the last step in a process towards narrowing the focus to its core business within cable solutions.

The transaction will not affect NKT’s financial outlook on 2022.

NKT has several cards to play in case of expansion

”It’s more a question of whether we need a bigger order book”

NKT builds on solid performance

NKT group divests sensor division for EUR 20m

More from EnergyWatch

Ukrainian utility hit by cyberattack

Russian hackers have allegedly carried out a cyberattack against the largest privately owned utility in Ukraine, DTEK Group. The perpetrators’ goal was to destabilize, the company reports.

Further reading

Related articles

Latest News

See all jobs