HELSINKI (Reuters) - The worlds top cellphone maker Nokia said on Wednesday it would sell its line fit automotive business to Germanys Novero GmbH.
Nokia did not disclose the value of the deal, but said it expected to complete the transaction by June.
Novero is owned by the former head of Nokias enhancements unit, Razvan Olosu, and German private equity firm Equity Partners.
Some 240 employees would be able to continue working for the units operations in Bochum, Dusseldorf and Detroit.
Shares in Nokia were 0.9 percent stronger at 18.46 euros by 1530 GMT, in line with the general Helsinki bourse index.
(Reporting by Agnieszka Flak; Editing by Richard Hubbard/David Hulmes)
Nokia did not disclose the value of the deal, but said it expected to complete the transaction by June.
Novero is owned by the former head of Nokias enhancements unit, Razvan Olosu, and German private equity firm Equity Partners.
Some 240 employees would be able to continue working for the units operations in Bochum, Dusseldorf and Detroit.
Shares in Nokia were 0.9 percent stronger at 18.46 euros by 1530 GMT, in line with the general Helsinki bourse index.
(Reporting by Agnieszka Flak; Editing by Richard Hubbard/David Hulmes)
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