The sale will not include certain accounts receivable, estimated at $110 million, from the mobility business.
According to TTM, the sale will reduce its Chinese manufacturing footprint and exposure to the seasonal and cyclical cellular market. The transaction is also in line with the company's strategy of focusing on growth markets such as aerospace and defense, automotive, medical, industrial, instrumentation, and networking and communications.
TTM said the sale is expected to close in four to six months, subject to regulatory approvals for transactions in China.
Price: 15.22, Change: -0.19, Percent Change: -1.23
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