El.En. S.p.A. (IT:ELN) has released an update.
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El.En. S.p.A. has reached a preliminary agreement with China’s Yangtze Optical Fibre and Cable Joint Stock Ltd. to sell a majority stake in its laser cutting division for 55.3 million euros. This strategic move will see El.En. retaining minority stakes in key subsidiaries while YOFC aims to leverage this acquisition to enhance its international market presence and technological capabilities. The final agreements are expected by December 2024, contingent on ongoing negotiations and assessments.
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