Alcatel-Lucent is reportedly discussing the sale of its enterprise business to several suitors including communications vendor Unify, a venture between US PE firm Gores Group and Germany’s Siemens.
The French vendor’s unit is estimated to be worth up…
Alcatel-Lucent is reportedly discussing the sale of its enterprise business to several suitors including communications vendor Unify, a venture between US PE firm Gores Group and Germany’s Siemens.
The French vendor’s unit is estimated to be worth up to €250m (US$341m), according to Bloomberg citing a source familiar with the matter.
Lazard is reportedly advising Alcatel.
Interested parties, including an industrial company from outside the US and a Chinese investor, are working on second-round bids and a decision could be reached between this month and March, sources were quoted as saying.
Alcatel, Gores Group and Siemens were not immediately available for comment.
The development comes shortly after the December 2013 sale of Alcatel’s US subsidiary LGS Innovations to Madison Dearborn Partners, CoVant and a number of undisclosed investors for up to US$200m.
The LSG deal is part of Alcatel’s turnaround strategy aimed at raising €1bn from asset sales by the end of 2015.
It also plans to slash its fixed costs by €1bn and is looking to tackle its debt. Since November, it sold US$1.65bn in bonds and raised US$1.3bn through a stock issue.
