Eltel signs a letter of intent to divest Power Transmission International
Today, Eltel has signed a letter of intent to divest its Power Transmission International (PTI) business operations to Encomm Sweden AB, a newly established Swedish company ultimately owned by EnComm Ltd, a Kenyan industrial owner, and its Swedish partner Swede Energy Power Solutions AB. The planned divestment of PTI will reduce the operational risk for Eltel going forward. Under the letter of intent both parties aim to timely finalise the definitive transaction agreement. The transaction is subject to key customer approval and that the purchaser obtains financing of the transaction and full