Today, Rostex announced the sale of his part of the Yotadevices of the China TWM investment group for $ 50.7 million.
The contract provides for the transfer of 25.1% Yotadevices for Fiat and liquid shares of China Baoli. The sale of assets is associated with the release of the LTE equipment manufacturer company for the international level and the cessation of Rostech’s participation as a strategic investor.
So far, China Baoli, which is part of the Chinese Consortium, owns 40% of the shares, and after TWM transaction will receive a controlling stake. Next, for the state corporation, participation in Yotadevices will become a portfolio investment. However, Rosecu reserved the right to use key technologies in strategic areas of activity.