(CercleFinance.com) – Nexans indicates that it has reached an agreement with Reka Industrial for the acquisition of Reka Cables, an acquisition that will enable the group to strengthen its position in the Nordic countries, particularly in the electricity distribution and usage activities .
Based in Finland and specialized in the manufacture of low and medium voltage cables dedicated to distribution and usage activities, Reka Cables has 270 employees and achieved an estimated turnover of more than 160 million euros in 2022.
Nexans will make the acquisition for a price of 53 million euros, including net financial debt of 6.5 million at the end of September. Completion is subject to regulatory approvals and is expected to take place in the first half of 2023.