AMSTERDAM (Thomson Financial) - Draka Holdings NV said it has agreed to pay 209 mln eur to buy the 49.9 pct stake Alcatel-Lucent holds in the Comteq joint-venture.
Draka said the acquisition will have a 'limited positive impact on earnings per share in 2008'.
With the acquisition, Draka gets full ownership of Comteq, a company set up by Draka and Alcatel-Lucent, and which specialises in optical fibre and optical fibre cable.
Draka said it has also secured a loan of 625 mln eur from a banking syndicate made up of Rabobank, ING, ABN Amro, Fortis and NIBC.
The cable company said it expects to achieve annual cost savings of around 3 mln eur in 2008 as a result of merging its head office with that of Comteq. By Kaj Leers, firstname.lastname@example.org kel/ejp COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.