Articles tagged with: Utstarcom and Personal

UTStarcom Sells Mobile Phone Division to Private Equity Investors

utstarcom has announced plans to sell its mobile phone division - Personal Communications Division ("PCD") to a newly formed entity controlled by AIG Vantage Capital, a part of AIG Investments. The expected proceeds of approximately US$240 million will be based primarily on the net working capital levels, subject to certain adjustments. In addition to the cash consideration, utstarcom could also receive up to US$50 million based on a three-year earn out provision.  more

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