-Both subsidiaries of Quiñenco have successfully sold a total of 2.2 million shares of the French multinational company through a private placement to institutional investors.

-After this sale, Invexans Limited remains a core shareholder of Nexans, with a remaining interest of approximately 14.2%.

November 22, 2024.- Invexans Limited and Tech Pack S.A., both subsidiaries of Quiñenco, finalized the sale of a total of 2.2 million shares of Nexans, equivalent to an approximately 5.0% equity stake in the company.

The transaction was carried out through a private placement to institutional investors by way of an “accelerated bookbuilding offering” and was closed at a price of €102 per share. This allowed the companies  to raise a net amount of US$234 million, which will be allocated to new strategic investments and other corporate purposes.

While Tech Pack S.A. sold its entire holding in the French multinational company, Invexans Limited remains a reference shareholder of Nexans, with 14.2% of the equity stake, retaining its board representation, and reaffirming its commitment to continue actively supporting Nexans’ management team in pursuing its value creation strategy, as presented in the Capital Markets Day and US Investor Day.

Goldman Sachs International, Societé Génerale, and Jefferies acted as Joint Global Coordinators and Joint Bookrunners of the placement, while Lazard served as Financial Advisor to Invexans Limited and Tech Pack S.A.

As part of the transaction, Invexans Limited has granted a lock-up to the aforementioned banks, under which the remaining Nexans shares not included in the transaction cannot be sold for a period of 90 days.