Nokia (NOK) Agrees to Sell Line Fit Automotive Business
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Nokia (NYSE: NOK) today announced that it has signed an agreement with a newly formed company named novero GmbH on the divestment of Nokia's line fit automotive business. Terms of the deal were not disclosed.
The transaction would enable continuance of the employment for approximately 240 employees of the line fit automotive business in Bochum, Dusseldorf and Detroit.
The parties anticipate closing the transaction in June 2008.
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