(Alliance News) - Prysmian Spa announced on Tuesday that it has finalized the acquisition of Channell Commercial Corporation for a base purchase price of USD950 million, subject to contractual adjustments.
Channell, headquartered in the United States, specializes in the production of thermoplastic enclosures and fiber optic management solutions.
According to the terms of the agreement, as detailed in the company's statement, Prysmian may also be required to make an additional payment of up to USD200 million if Channell achieves certain EBITDA targets for the 2025 calendar year.
The acquisition further strengthens Prysmian's position in the North American cable sector, the statement added.
Following the completion of the deal, Channell will be fully consolidated within Prysmian's financial reporting perimeter as of June 1, 2025.
Prysmian shares rose 1.2% to EUR58.76 each.
By Claudia Cavaliere, Alliance News reporter
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