Nexans: acquires Reka Cables in Finland
(CercleFinance.com) - Nexans has reached an agreement with Reka Industrial to acquire Reka Cables, which will enable the group to strengthen its position in the Nordic countries, particularly in the electricity distribution and utilities business.
Based in Finland and specialising in the manufacture of low- and medium-voltage cables for the distribution and utilities business, Reka Cables has 270 employees and estimated sales of over 160 million euros in 2022.
Nexans will acquire the business for 53 million euros, including net financial debt of 6.5 million euros at end-September. The deal's completion is subject to regulatory approvals and is expected to occur in H1 2023.
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