Eltel divests its High Voltage business in Germany
Eltel has signed an agreement to divest its German High Voltage business to ENACO, a German service provider in the energy sector. The transaction is expected to close during Q2, 2021.Eltel classified its German High Voltage business as assets held for sale at the end of 2020 and the revaluation had EUR -5.7 million impact on Group EBIT in Q4 2020. The transaction is estimated to have negative cash flow effect of EUR 3.8 million. Eltel will as part of the divestment engage ENACO as a subcontractor for the completion of certain projects, which are expected to be completed during 2021 and