De Brauw Blackstone Westbroek has advised Nokia Corporation on acquiring Siemens AG's' entire 50% stake in their joint venture, Nokia Siemens Networks (NSN). NSN is a leading global provider of telecommunications infrastructure. The purchase price for Siemens' stake is EUR 1.7 billion and closing is expected in Q3 2013.
NSN was established as a joint venture combining Nokia's Networks Business Group and Siemens' carrier-related operations for fixed and mobile networks. NSN has since become a leading global provider of telecommunications infrastructure, deploying networks in more than 150 countries around the world.
Upon closing, NSN will become a wholly owned subsidiary of Nokia. NSN's operational headquarters will remain in Espoo, Finland, and the company will continue to have a strong regional presence in Germany, including its major hub in Munich.
De Brauw partner Martin van Olffen: "After the creation of Nokia Siemens Networks in 2007, Siemens' focus on the telecom industry changed, whereas Nokia's focus continues unabated. The transaction fits this strategy seamlessly."
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