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Paris, July 9, 2009 – The Fonds Stratégique d’Investissement (FSI – the French Sovereign Fund) has announced having acquired a shareholding stake in Nexans of 5%, following the acquisition of shares in the market.
The global leader in the cable industry, Nexans posted sales of 6.8 billion euros in 2008 and has a workforce of 23,500 employees in 39 countries, some 3,000 of them in France.
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Nexans operates in the infrastructure, industry, building, and local area network markets. Nexans has strong capacity for innovation, especially in developing products and solutions for energy networks.
This investment reflects the FSI’s core strategic mission:
- By becoming one of Nexans’ leading shareholders, the FSI will ensure greater stability and strengthen the company’s shareholding structure.
- The FSI intends to support Nexans’ development and acquisitions policy focused on high growth markets.
- Nexans will contribute to the competitiveness of the French economy by virtue of its powerful position in several of its markets, especially the energy and transportation sectors. The Group is ideally placed to benefit from growth in these sectors in the coming years.
Gilles Michel, Chief Executive Officer of the FSI, stated that: “We are pleased to provide support for Nexans’ long term perspectives, and become a core shareholder. With its robust balance sheet, Nexans can continue to act as a leader in the cable business”.
Frédéric Vincent, Chairman and Chief Executive Officer of Nexans said: “We are delighted to have the support of a core shareholder of the prominence of the FSI. The Fonds Stratégique d’Investissement is aware of the challenges facing a global industrial group such as ours. We are most grateful for its support for our long term growth”.
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