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Zenitel announces the finalization of the strategic reorientation of the group

This involves Divestment of Zenitel’s Network activities (MCCN) in Belgium and the Netherlands, Agreement in principle to sell its real estate activity – closing expected during fourth quarter, and finalizing the negotiations with the debt providers, converting its short term debt into long(er) term debt.

On 15 October 2009, the network infrastructure assets and customer contracts of MCCN NV and MCCN BV (Mission Critical Communication Networks) were sold to Entropia Networks NV. After the sale of 85% of the shares of Zenitel Belgium, the activities of Zenitel Wireless France, 85% of the shares of Zenitel Netherlands BV and 100% of the shares of Confined Area Solutions AB, this divestment was one of the last parts of Zenitel’s strategy to divest its non-core activities. Per 1 October, Zenitel also finalized the negotiations with its banks and financial creditors to convert its short term credits into long(er) term debt. Finally, the company also signed an agreement in principle to sell its real estate activities in the fourth quarter.

Revenue growth, increased net results 2018

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