SMART Global Agrees To Divest Majority Stake Of SMART Modular Brazil
Portfolio Pulse from Benzinga Newsdesk
SMART Global (SGH) has agreed to sell an 81% stake in SMART Modular Technologies do Brasil to Lexar Europe B.V., an affiliate of Shenzhen Longsys Electronics, for approximately $166 million in cash. The deal values 100% of SMART Brazil at an initial enterprise value of $205 million.
June 13, 2023 | 11:02 am
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SMART Global (SGH) is selling an 81% stake in SMART Modular Technologies do Brasil to Lexar Europe B.V. for $166 million, valuing the unit at $205 million.
The sale of an 81% stake in SMART Modular Technologies do Brasil for $166 million in cash is a significant deal for SMART Global (SGH). This transaction will likely have a positive short-term impact on SGH's stock price, as it demonstrates the company's ability to monetize its assets and generate cash. The deal also values the unit at a relatively high enterprise value of $205 million, which could be seen as a positive signal for the company's overall valuation.
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