Nexans: completes sale of US Berk-Tek, CMD postponed

(CercleFinance.com) - Nexans today announced that it has completed the sale of Berk-Tek, its US copper and fibre optic cables subsidiary, to the US electrical wiring equipment group Leviton for a total price of 202 million dollars.


As already announced on 17 July, the transaction is valued at about 10x 2019 adjusted EBITDA, the French cable manufacturer said.

Alongside this announcement, Nexans said that its CMD, which was scheduled to be held in London, Paris and New York from 3 November this year, has been postponed until 17 February 2021, either with investors attending, or on a virtual basis.

This delay is of course directly due to the recent resurgence of the Covid-19 pandemic, with many countries re-assessing rules regarding mass gatherings of people.



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