Clifford Chance

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.