El.En. S.p.A. (IT:ELN) has released an update.
El.En. S.p.A. has signed a framework agreement with Yangtze Optical Fibre and Cable Joint Stock Ltd for the potential sale of its majority stake in the laser cutting division, valued at approximately 55.3 million euros. The agreement, which involves El.En. retaining minority stakes, aims to enhance business synergies and expand market reach by leveraging YOFC’s global presence in sectors such as energy transportation and telecommunications. This strategic move is expected to bolster the technological capabilities and market positioning of both companies.
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