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Divestment of Sony Ericsson completed
- The previously announced divestment of Ericsson's share of Sony Ericsson to Sony, including the broad IP cross-licensing agreement, completed on February 15, 2012
- Ericsson's gain on the transaction will be approximately SEK 7.5 billion and reported as 'Other operating income'
Ericsson (NASDAQ:ERIC) has today completed the divestment of its 50 percent stake in Sony Ericsson Mobile Communications AB ("Sony Ericsson"), including the broad IP cross-licensing agreement, jointly announced by Sony Corporation ("Sony") and Ericsson on October 27, 2011. This makes Sony Ericsson a wholly-owned subsidiary of Sony. The agreed cash consideration for the transaction is EUR 1.05 billion.
Ericsson's gain on the transaction will be approximately SEK 7.5 billion and will be reported in the first quarter result on April 25, 2012, as 'Other operating income' in the income statement.
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