Ericsson divests its power cable operations to nkt cables
Ericsson has agreed to divest its power cable operations to the Danish company nkt cables. Ericsson’s power cable operations had net sales of approximately SEK 1.5 billion in 2012 and comprises approximately 320 employees and consultants, primarily based in Sweden.
nkt cables is one of the largest power cable manufacturers in Europe. The power cable operations that currently reside within Ericsson’s business unit Networks will become a part of nkt’s core business.
Ericsson is a world-leading provider of communications technology and services with more than 110,000 people working with customers in more than 180 countries. In 2012, the company's net sales were SEK 227.8 billion (USD 33.8 billion).
Ericsson was advised by Mannheimer Swartling in the transaction. The firm’s team included partner Bo Söderberg, assisted by, among others, Christopher Arkbrant, Claudia Wallman, Tomas Kjellgren, Mikael Moreira, Kerstin Brinnen and Sanna Lundqvist.