ECI Telecom and its shareholders - the Swarth Group and Ashmore Investment Management Ltd. -- has acquired all the remaining debt extended to the company upon its acquisition in September 2007. By doing so, ECI is significantly improving its capital structure.
Rafi Maor, President and CEO of ECI, commented: "This transaction reflects the confidence our shareholders have in ECI and our ability to continue to compete successfully in the dynamic telecom market. It will allow us to invest additional resources in developing ECI's business and accelerate the company's growth."http://www.ecitele.com
- In September 2007, ECI was acquired by a group of private investors, including the Swarth Group and Ashmore Investment Management Ltd, in a transaction valued at $1.24 billion. The acquisition was financed by a mix of equity and debt.
