Reka Industrial Plc: The sale of Reka Cables Ltd completed

PRESS RELEASE

26.4.2023 16:00:00 EET

Reka Industrial Plc (“Reka Industrial”) announced on 10 November 2022 that it has signed an agreement with Nexans Group (“Nexans”) regarding the sale of all outstanding shares in Reka Industrial´s wholly owned subsidiary Reka Cables Ltd (“Reka Cables”).

All needed approvals were received by 20 April 2023 and today the sale of Reka Cables to Nexans has been completed.

Markku E. Rentto, Chairman of the Board of Reka Industrial said: "The business transaction creates new opportunities for Reka Cables and will provide them with new opportunities to grow and develop in the future as part of Nexans". 

Christopher Guérin, Chief Executive Officer of Nexans said: “We look forward to welcoming the Reka Cables’ team within Nexans. They have a strong commitment to the energy transition and will contribute to our transformation of becoming a pure-player in electrification. Their expertise in premium and safe cables also lays the groundwork for further expansion in the region.”

Hyvinkää, 26 April 2023

Reka Industrial Plc

The Board of Directors

Additional information:
Markku E. Rentto, Chairman of the Board of Directors, tel. +358 40 500 1858

About Reka Industrial Plc

Reka Industrial is involved in the transition of both the energy and transport industries. As an industrial family company, we are committed to developing the performance and sustainability of the companies we own. The market is growing and we along with it. Reka Industrial class B shares are listed on the Nasdaq Helsinki Ltd.

www.rekaindustrial.fi/en