IPG Photonics (IPGP) Regains 22.5% Interest in NTO IRE-Polus for $55.4M Cash

June 29, 2012 8:33 AM EDT Send to a Friend
IPG Photonics Corporation (Nasdaq: IPGP) purchased the outstanding 22.5% minority interest in its Russia-based subsidiary, NTO IRE-Polus (NTO), that it previously sold to Open Joint Stock Company “Rusnano.” IPG regained complete control of NTO for $55.4 million in cash. The Company expects the transaction to be accretive starting in the third quarter of 2012. The net income attributed to Rusnano's non-controlling interest in NTO had resulted in a reduction to IPG Photonics’ earnings of $0.07 per diluted share in 2011 and $0.01 per diluted share in the first quarter of 2012.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Mergers and Acquisitions

Related Entities

Earnings

Add Your Comment