Exclusive: Huawei in Talks to Divest Parts of Honor Smartphone Business, Sources Say | Investing News

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd <000034.SZ> and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said.

Digital China, the main distributor for Honor

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Sandvik to divest its Exploration business

SANDVIKEN, Sweden, Oct. 9, 2020 /PRNewswire/ — Sandvik has signed an agreement to divest its Exploration business to Drillman, a subsidiary of the M Group of companies, which is 100% owned and operated in Australia. Drillman provide equipment and technical support to the Geotechnical, Mineral Exploration, Horizontal, Directional and Upstream Gas Drilling sectors, among others. 

The deal includes exploration rigs, consumables and production stock, along with selected trademarks and patents. The business is currently reported in Sandvik Mining and Rock Technology.

“I am pleased that we have signed an agreement to sell our Exploration business as this is in line with our focus to further improve the efficiency and profitability of our company,” says Stefan Widing, President and CEO of Sandvik.

“I believe we have found a good home for our Exploration business in Drillman, who will support in the further development of its operations and performance,”

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