Clifford Chance advises Nexans on acquisition of Shandong Yanggu Cables Group's power cable business
12 September 2012
Clifford Chance advises Nexans on acquisition of Shandong Yanggu Cables Group's power cable business
Leading international law firm Clifford Chance has advised Nexans on its acquisition of a 75% equity interest in the Shandong Yanggu New Rihui joint venture, along with the historical shareholder Shandong Yanggu Cables Group Co., Ltd. which continues to hold a 25% equity interest. The transaction values the business (100% basis) on a debt and cash free basis at approximately EUR156 million.
Partner Kelly Gregory, who led the team, said, "We were very pleased to advise Nexans on this transaction which gives Nexans a strategic footprint in the rapidly growing Chinese energy infrastructure market."
Kelly was supported by senior associate Hong Zhang who was the lead associate on the deal.
Nexans is a worldwide leading expert in the cable industry. They offer an extensive range of cables and cabling solutions globally and have a presence in 40 countries.