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General

Telit completes sale of automotive ops to China's TUS

Wednesday 27 February 2019 | 13:53 CET | News
Telit Communications has finally closed the sale of its automotive division, after hitting a number of delays. Telit Automotive Solutions (Telit Belgium) was sold to China's TUS for USD 105 million. Telit has received USD 67.5 million in cash and has granted TUS a short-term vendor loan of USD 38.5 million.

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Categories: General
Companies: Telit Communications
Countries: World
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