Prysmian
Encyclopedia
Prysmian is an Italian
-based multinational corporation headquartered in Milan
and listed on the Milan Stock Exchange
, manufacturing and laying cables for the energy and telecommunications sectors, it's the market leader, also thanks to the acquisition of Draka Holding
. It is present with subsidiaries in 50 countries, 98 plants in 24 countries and 22 Research & Development Centres worldwide.
The company was originally founded in 1879, as Pirelli Cavi e Sistemi. In 2005 the Pirelli
group sold it to Goldman Sachs
which re-branded the company with its current name.
At the end of 2009, Goldman Sachs decided to list Prysmian on the stock market and sold most of its stake in the company by means of the IPO, making it one of the largest public companies in Italy.
In 2009, Prysmian entered merger talks with its Dutch competitor Draka
, but divergences began to emerge in August, and the deal was called off in September.
The next year, after an unsuccessful takeover attempt by rival Nexans
, negotiations resumed and the announcement of a friendly acquisition was made on 22 November 2010 to create the world's largest cable maker by revenue.
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
-based multinational corporation headquartered in Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
and listed on the Milan Stock Exchange
Borsa Italiana
The Borsa Italiana S.p.A., based in Milan, is Italy's main stock exchange. It was privatised in 1997 and is a part of the London Stock Exchange Group plc since 2007. In 2005, the companies listed on the Borsa were worth US$890 billion...
, manufacturing and laying cables for the energy and telecommunications sectors, it's the market leader, also thanks to the acquisition of Draka Holding
Draka Holding
Draka Holding N.V. is a Dutch manufacturer of electrical cables for the telecommunications, energy, infrastructure and automotive industries, founded in 1910 by Jan Teewis Duyvis. It formerly had a joint venture with Alcatel-Lucent for manufacturing optical fibre, but bought out its partner's 49.9%...
. It is present with subsidiaries in 50 countries, 98 plants in 24 countries and 22 Research & Development Centres worldwide.
The company was originally founded in 1879, as Pirelli Cavi e Sistemi. In 2005 the Pirelli
Pirelli
Pirelli & C. SpA is a diverse multinational company based in Milan, Italy. The company, the world’s fifth largest tyre manufacturer, is present in over 160 countries, has 20 manufacturing sites around the world and a network of around 10,000 distributors and retailers.Founded in Milan in 1872,...
group sold it to Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
which re-branded the company with its current name.
At the end of 2009, Goldman Sachs decided to list Prysmian on the stock market and sold most of its stake in the company by means of the IPO, making it one of the largest public companies in Italy.
In 2009, Prysmian entered merger talks with its Dutch competitor Draka
Draka Holding
Draka Holding N.V. is a Dutch manufacturer of electrical cables for the telecommunications, energy, infrastructure and automotive industries, founded in 1910 by Jan Teewis Duyvis. It formerly had a joint venture with Alcatel-Lucent for manufacturing optical fibre, but bought out its partner's 49.9%...
, but divergences began to emerge in August, and the deal was called off in September.
The next year, after an unsuccessful takeover attempt by rival Nexans
Nexans
Nexans S.A. is a French company which manufactures copper and optical fiber cable products for the infrastructure, industrial and construction markets. It is the world's largest manufacturer of cables. It has an industrial presence in nearly 40 countries, over 23,000 employees and sales of around...
, negotiations resumed and the announcement of a friendly acquisition was made on 22 November 2010 to create the world's largest cable maker by revenue.