Alcatel Completes LGS Innovations Sale - Quick Facts

(RTTNews) - French telecom equipment maker Alcatel-Lucent SA (ALU) Tuesday said it closed the sale of its unit LGS Innovations LLC, to a US-based company owned by a Madison Dearborn Partners-led investor group that includes CoVant.

The total consideration for the transaction was $200 million, of which 50 percent was paid at closing. Up to a further 50 percent will form a subsequent variable component to be determined on the divested company's results from operations during the 2014 fiscal year.

Alcatel added that this divestment forms part of its commitments to generate at least 1 billion euros through selective asset sales by the end of 2015.