Nokia: Here for 2.8 billion euros of capital gain of about 1 billion euros (new)
2015-08-03 08:21
(Adds paragraph 4-7) (SIX) Nokia sells digital map service Here to a consortium by automakers including, among other things, Audi, BMW and Daimler to an enterprise value of 2.8 billion euros. Nokia expects to report a capital gain of about SEK 1 billion as a result of transaction. It is clear from a press release. The deal is expected to close during the first quarter of 2016 and is subject to customary approvals from competition authorities. After the transaction, Nokia estimates obtaining a consideration of just over 2.5 billion. The buyer will be compensated for some of Here defined cost pressures, which are estimated to amount to anything over 300 million. Here had sales of EUR 552 million and made an operating profit, Non-IFRS 46 million during the first half of the 2015th At the end of June 2015 had Here 6454 employees. Nokia plans classifying Here as a discontinued operation as of the third quarter 2015. Here will continue to operate as one of Nokia's business until the transaction has been completed. "With this step we finish the last stage of Nokia transformation. We have integrated the former Nokia Siemens Network sold our Devices & amp; Services business and has now reached a agreement to sell Here, which we believe is the best route forward for our shareholders, as well as for customers and heres employees, "said Nokia CEO Rajeev Suri. Gabriel Cardona Cervantes mailto: gabriel.cardonacervantes@six-group.se www.blogg.six.seSIXNews SIX News
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