It has been almost two years since NKT announced that it had reached an agreement with the Japanese company Hamamatsu to sell NKT Photonics. However, the deal has always been subject to approval from the authorities, and it has been a long time coming. But on Monday, NKT announced that the approval has been obtained and that the deal will therefore be completed in the current quarter.
It was the Danish Business Authority that did not want to approve the sale last year. Since then, Hamamatsu has submitted a new application, and it has apparently made the authorities change their mind.
- We are pleased that the approval has been obtained and that NKT Photonics can now be sold to Hamamatsu. This will maximize value creation and position NKT Photonics for long-term growth.
- For NKT, the divestment marks the final step in the process towards focusing NKT's core business on cable solutions, where we have announced several investments in the past year to support the green transition of society, says Jens Due Olesen, Chairman of NKT's Board of Directors.
NKT Photonics produces lasers and other devices that utilize fiber and laser technology.
/ritzau/
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