Earlier this year, the sale of NKT’s subsidiary Photonics to Japanese Hamamatsu was rejected by the Danish Business Authority with reference to national security, but now the potential buyer is once again trying to complete the acquisition for EUR 205m, writes the Danish business daily Børsen.

Hamamatsu has submitted a new application for approval.

”We have spent a lot of resources identifying potential reasons for the rejection. In the new application, we have addressed all the concerns or missing information that we assume may be the reason for the rejection in the first place,” says Max Skoglund, managing director of Hamamatsu Photonics Europe, in a written comment to Børsen.

It is now more than a year since NKT entered into the agreement to divest the fibre laser business, and the failure to complete the transaction affects both the daughter and the parent company.

The proceeds from the sale are included in NKT’s capital plan, and while Photonics’ future is uncertain, competitors are ”going on the prowl”, says Chairman of the Board Jens Due Olsen.

(Translated using DeepL with additional editing by Simon Øst Vejbæk)