Nexans is negotiating with Syntagma Capital to sell its telecoms systems activity, The Business, to the latter while retaining its Special Telecom division. The Business creates a turnover of EUR 200 million for the Nexans.
February 15, 2023
Nexans is negotiating with Syntagma Capital to sell its Telecom Systems activity, commonly called The Business. The Business includes designing, production, and commercialization of advanced solutions for telecom, LAN networks, and datacentres, and has a turnover of EUR 200 million.
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Syntagma Capital is a Belgium-based private equity fund.
On successful negotiation, Nexans shall exit the telecom and data activity, and its Special Telecom division, dealing with the production and installation of subsea telecommunication systems, accessories, and services based in Rognan, Norway, will become part of Nexans Generation & Transmission business group.
The move is in line with its strategy to simplify its activities and amplify its impact in the Electrification markets.
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The negotiations, including information and consultation with works councils and other regulatory approvals, are subject to the fulfillment of customary conditions and are expected to get completed by the end of the first half of 2023.