Nordic Business Report-July 7, 2006-Nera Telecommunications Ltd divests 68% holding in Nera Electronics Ltd
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The Singapore-based company Nera Telecommunications Ltd, 50.05% owned by Norwegian group Nera ASA, said on Friday (7 July) that it has agreed to sell its 68% stake in Nera Electronics Ltd to a company owned by The HSBC Private Equity Fund 3 Limited.
The sales price is SGD58.58m.
Nera Electronics is a contract electronics manufacturer based in Singapore.
One Singapore dollar (SGD) is worth approximately 0.35 British pounds (GBP).
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