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BRIEF-Ascom to divest its network testing division to InfoVista
August 22, 2016 / 4:40 AM / a year ago

BRIEF-Ascom to divest its network testing division to InfoVista

Aug 22 (Reuters) - Ascom Holding AG :

* To divest its network testing division to InfoVista

* Transaction is based on a cash-free/debt-free enterprise value of $45 million

* Will receive $30 million in cash at closing and the remainder of the consideration in the form of a subordinated vendor loan with a nominal value of $15 million, a 7-year maturity and a stated interest rate of 4 pct p.a.

* Closing of the transaction is expected in Q3/2016

* Expects to realize an extraordinary loss of around 145 Swiss francs million from the divestment of the Network Testing Division Source text - bit.ly/2baIJkt Further company coverage: (Gdynia Newsroom)

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