Sale of Avanex France Completed, Company Renamed 3S Photonics
Apr 18, 2007 — Avanex Corp. of Freemont, Calif., a provider of photonic solutions for fiber-optic communications, announced yesterday that it has completed the sale of its French subsidiary, Avanex France SA (formerly Alcatel Optronics), to its director, Didier Sauvage, and Global Research Co., owned by Alexandre Krivine. (See Avanex Divests Opto Fabs ) Avanex Corp. paid the buyers $17.3 million in anticipated operating capital, including liabilities for previous restructuring activities, and keeps a 10...