IPG Photonics (IPGP) Regains 22.5% Interest in NTO IRE-Polus for $55.4M Cash
- SABMiller Rejects GBP 42.15/Share Offer From AB InBev SA (BUD)
- Wall St. turns negative as oil rally fades, tech stocks drag
- Yum! Brands (YUM) Misses Q3 EPS by 7c; Cuts FY15 EPS Growth Outlook
- Prince Alwalled Bin Talal Shows New 5.17% Stake in Twitter, Inc. (TWTR)
- General Electric (GE) Announces New Energy Company: Current
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
- Monsanto (MON) Misses Q4 EPS by 17c; Guides FY15 EPS Below Views
- CDI Corp (CDI) Acquires EdgeRock Technologies in $31M Cash Deal
- IHS (IHS) Reaffirms FY15 Outlook
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!