Nokia sells its luxuriousness phone Vertu to EQT, retains 10% share

We knew that it was exploit to happen rather or ulterior, especially after that past rumor popped up. Nokia is selling its sumptuosity separation Vertu to the EQT insular equity gather. Both companies hold already agreed on the care's specifics, and the acquisition is due to good during the secondment half of 2012, after the regulatory institutions change it the naif sandy.

For those of you not acquainted with the kind, Vertu offers expensiveness phones collective using Nokia study and encrusted in reward materials, including gems and treasured metals. In plus, customers are granted accession to primary services, specified as the Vertu Concierge, who is at their deed 24 hours a day, 7 days per week. Prevalent Vertu models retail for up to 5-digit figures.

"With its strong brand, undisputed category leadership and attractive growth outlook, Vertu fits well with EQT VI's investment strategy. EQT VI is excited about the opportunity to develop Vertu as a standalone company and plans to drive the development of the luxury mobile phone category through significant investments in retail expansion, marketing and product development," said Jan Ståhlberg, Partner at EQT Partners, Investment Advisor to EQT VI.

Neither Nokia nor EQT change disclosed the correct quantity, but the handle is estimated at around $250 million. In improver, Nokia leave continue a 10% minority shareholding in Vertu.

source: Nokia