Nexans S.A. (ENXTPA:NEX) entered into agreement to acquire Reka Kaapeli Oy for €53 million on November 10, 2022. Nexans will acquire Reka Cables for an equity price of €53 million, including a financial net debt of €6.5 million as of end of September 2022. .

In 2022, Reka Cables reported current sales of €172 million and an EBITDA of €11 million. Nexans expects to fund the acquisition with a mix of available cash and debt. Completion of the Transaction is subject to regulatory approvals and is expected to take place in the first half of 2023.

The transaction is conditional to the approval of the Extraordinary General Meeting of Reka Industrial. Expected closing date range would be January 1 to June 30, 2023. As of December 15, 2022, the transaction has been approved in the Extraordinary General Meeting.

Clairfield International and Ari Leppänen and Nicklas Sivula of Nordhaven Corporate Finance acted as Financial advisor to Reka Industrial Oyj.(HLSE:REKA)