Nexans enters into exclusive negotiations with Latour Capital for the sale of Lynxeo

• Nexans announces having entered into exclusive negotiations with Latour Capital for the sale of Lynxeo for €525 million, subject to customary approvals
• With the proposed transaction, Nexans would achieve major step on its strategy to become a Pure Electrification Player

Nexans announces today having entered into exclusive negotiations for the sale of its industrial cable division Lynxeo to Latour Capital, a France-based private equity fund, for an Enterprise Value of €525 million. This proposed transaction would mark Nexans’ exit from the specialty industrial cables activity in line with its strategy to refocus as a Pure Electrification Player.

Lynxeo is a powerhouse in specialty industrial cables and plays a key role as a fully integrated player, serving a diversified range of infrastructures industries in transportation, energy and automation. With a heritage of more than 100 years serving industrial champions, Lynxeo boasts a global manufacturing presence in Europe, Asia, and the United States of America, with 2,000 employees and annual standard sales of over €700 million.

The relevant works council will be informed and consulted in connection with the proposed transaction. In addition, the proposed transaction remains subject to the fulfilment of customary regulatory approvals. On this basis, the closing of the proposed transaction could take place in the second half of 2025.

J.P. Morgan Securities Plc is acting as exclusive financial advisor to Nexans while Bredin Prat is acting as legal counsel on the transaction.

Nexans announces a new organizational structure, effective from 17^th January 2025 under the leadership of Christopher Guérin, Chief Executive Officer. This change is designed to accelerate profitable growth, and aligns with the Group’s ambitions outlined during the recent Capital Markets Day.

The new organization positions the Group for the next strategic cycle, and drives innovation in PWR-Grid and PWR-Connect markets. This region-based structure places strong focus on enhanced customer experience and addresses the evolving needs of clients.

The new Executive Committee encompasses 15 executive members. This leadership team aims to better adapt and reflect Nexans’ business, commercial, and industrial priorities.

Detailed composition of the Executive Committee:

CEO Office:
Christopher Guérin, Chief Executive Officer;
Jean-Christophe Juillard, Deputy Chief Executive Officer;
Vincent Dessale, Senior Executive Vice President, Strategic projects and Key accounts.

Business Segment:
PWR-Transmission, led by Pascal Radue, Senior Executive Vice President PWR-Transmission.

PWR-Grid and PWR-Connect Market Divisions (new):
PWR-Grid, led by Elyette Roux, Executive Vice President PWR-Grid & Accessories;
PWR-Connect, led by Christopher Guérin (interim).

PWR-Grid & Connect Regions (new):
Europe, led by Julien Hueber, Executive Managing Director PWR-Grid & Connect Europe;
South America, led by Luis Ernesto Silva, Managing Director PWR-Grid & Connect South America; (new appointment).
Middle East & Africa, led by Atilla Kurtis, Managing Director PWR-Grid & Connect Middle East and Africa; (new appointment).
North America, led by Tim King, Managing Director PWR-Grid & Connect North America; (new appointment).
Asia Pacific, led by Donny Yu, Managing Director PWR-Grid & Connect Asia Pacific. (new appointment).

Group Functions:
Chief Financial Officer, Jean-Christophe Juillard;
Chief Legal Officer and Secretary General, Nino Cusimano;
Chief Human Resources and ESG Officer, Séverine Grosjean;
Chief Operations Officer, Vijay Mahadevan (new appointment);
Chief Strategy, Innovation and Digital Officer, Guillaume Eymery (new appointment).

• Nexans secures new project under TenneT framework agreement
• The project involves the EPCI of 250 km of HVDC XLPE technology cables for the LanWin 2 offshore grid connection system, transmitting 2GW of offshore wind energy from the German North Sea to the mainland
• This 1 billion euros project strengthens Nexans’ position as a key player in the European offshore wind market.

Nexans, a global leader in the design and manufacturing of cable systems and services, has secured the project agreement for LanWin 2, valued at 1 billion euros, under the TenneT frame agreement awarded in May 2023.

This project involves the Engineering, Procurement, Construction, and Installation (EPCI) of 250 km of 525 kV High-Voltage Direct Current, Cross-Linked Polyethylene (HVDC, XLPE) onshore and offshore export cable systems. The project is part of the development of TenneT’s 2 GW offshore grid connection program in the German North Sea. Commissioning of the project is expected in 2030.

This project highlights Nexans’s ongoing partnership with TenneT, following the BalWin3 and LanWin4 projects announced in March 2024, to develop the infrastructure essential to support Germany and Europe’s renewable energy future.

Nexans announces today the completion of the sale of AmerCable, a leading manufacturer of electrical power, control and instrumentation cables for harsh environments, to Mattr, for an enterprise value of US$280 million.

The divestiture aligns with Nexans’ long-term strategy and allows the Group to sharpen its focus on its core Electrification business.