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Thursday, April 18, 2024

Pérez-Llorca, Garrigues advise on Nexans´$225m acquisition of Centelsa from Xignus

Pérez-Llorca has advised Nexans on its acquisition of premium cable manufacturer Centelsa, with the seller, Mexico´s Xignus, represented by Garrigues

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Nexans Participations, a subsidiary of the French power and data cable producer Nexans Group,has completed the acquisition of Colombian manufacturer Cables de Energía y de Telecomunicaciones (Centelsa), which has a leading position in Latin America, for USD 225 million, from Xignux S.A. (headquartered in Mexico) following receipt of regulatory clearance, with an enterprise value of $225 million.

This transaction completes an additional milestone of Nexans’ strategy to become a Pure Electrification Player focusing on the overall value chain originating in generation, and flowing through transmission, distribution, and usage of sustainable energy.

With a total turnover of more than US$ 339 million in 2021, Centelsa’s three manufacturing plants in Cali, Colombia and their distribution center in Ecuador will complement Nexans’ presence in Latin America. Nexans already operates four industrial plants in Colombia, Peru, Chile and Brazil and employs 1,300 people. Nexans regional headquarters will be now located in Cali.

Nexans and Centelsa share a culture that emphasizes premium customer service and experience. Their collective histories as pioneers in sustainable technologies combined with their experience in electrification will benefit customers with enhanced solutions. The Group will also be able to build for its customers and partners a unique premium brand in the distribution and usage markets, while accelerating the development of a renewable energy offering across the region.

Nexans will foster its Amplify program for innovation with the creation of a Design Lab in Cali, Colombia. This will include a fully dedicated team to enhance innovation based on Latin American customer experience and needs.

Pérez-Llorca advised Nexans with a team comprising partners Iván Delgado and Norma Peña i Bagés, along with lawyers Pablo Hontoria Salgado, Ignacio Rodríguez Azpiazu, Marcos Mata and Roger Morera.

Garrigues advised Xignus with a team formed by Corporate/Commercial partner Antonio Bulnes and associate Marcos Alejandro Cardona.

SourceLexLatin
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