Eltel signs an amendment to the letter of intent to divest Power Transmission International
Eltel has signed an amendment to the letter of intent to divest its Power Transmission International (PTI) business operations to Encomm Sweden AB.Eltel and Encomm Sweden AB signed a letter of intent on 25 September 2017. A press release outlining the background and financial considerations for the divestment was issued upon signature of the letter of intent. The transaction is subject to key customer approval and that the purchaser, before the end of 2017, obtains financing of the transaction and full release for Eltel under certain guarantees. Under the amended letter of intent both