- The company’s UK subsidiary, Invexans Limited, announced today its intention to sell approximately 9.6% of Nexans’ share capital, equivalent to about one-third of its stake in the French multinational.
- The main objective of the sale is to adjust Invexans Limited’s position in Nexans, whose value has increased significantly in recent years, in order to diversify its portfolio and unlock resources for new strategic investments.
- After the sale, Quiñenco’s subsidiaries would continue to be a reference shareholder with about 19.2% ownership of Nexans.
April 4, 2023. Through material information sent today to the Chilean Financial Market Commission (CMF), Invexans communicated that its subsidiary in the United Kingdom, Invexans Limited, put up for sale 4.2 million shares of the French multinational Nexans, equivalent to 9.6% of the company.The transaction will be carried out through a private placement to institutional investors by way of an accelerated book building offering. The result will be announced as soon as the process is closed, which is expected to occur no later than April 5. Payment of the shares will be effective on the 11th of the same month.
Invexans Limited also communicated that the main objective of the sale would be to adjust its position in Nexans, whose value has increased significantly in recent years, in order to diversify its portfolio and unlock resources for new strategic investments and other corporate purposes.
If the transaction is materialized, Quiñenco’s subsidiaries will have a 19.2% interest in Nexans, and thus remain as reference shareholders of the French multinational, as well as active board members. In addition, a 180-day lock-up period during which the shares not included in the offer may not be sold, was granted to the Banks.
Goldman Sachs International, Morgan Stanley and Société Générale will act as joint global coordinators and joint bookrunners of the placement announced today by Invexans Limited. Lazard will act as financial advisor to Invexans Limited.