Denmark authorities approve Hamamatsu move for NKT Photonics
It was on, then off, and now it's back on again. Two years after the deal was first agreed, Hamamatsu has been given the all-clear to acquire NKT Photonics.
In 2022, Japan’s Hamamatsu announced a deal to buy its Copenhagen-based target for a reported EUR 205 million. The deal would have seen NKT, which specialises in high-stability fibre lasers and supercontinuum sources, become part of the Japanese company.
German, US, and UK authorities all approved Hamamatsu’s acquisition plan. But in May 2023 the Danish government halted the purchase for security reasons under the terms of the Danish Investment Screening Act.
In July 2023 it seemed like the deal was back on, only for a further red tape to delay completion once again. However, earlier this week, Hamamatsu received confirmation of approval from the Danish Business Authority. The transaction should now be completed by the end of June.
Jens Due Olsen, Chair of the Board of Directors at NKT, said: We are pleased that the approval has been obtained and that NKT Photonics can now be divested to Hamamatsu. This will maximize the value creation and position NKT Photonics for long-term growth. For NKT, the divestment marks the final step in the process to fully focus the company on our core business within power cable solutions, where we have announced several investments in the past year to support the green transition of societies."
