Invexans participates in the cable industry through its investment in Nexans, which origin goes back to 1897, when the “Société Française des Câbles Électriques” was created at Lyon, France. Operations under the name Nexans started in 2000, after its creation. Nexans has a leadership position in the industry at worldwide level, playing a significant role in all segments in which it participates, with an industrial presence in 40 countries.
In 2008 Invexans agreed to the sale of its Cables unit to Nexans, thus transferring all of its assets in exchange for a cash payment and Nexans shares in the equivalent to approximately 9% of that company’s interest.
On March 28, 2011, Invexans entered into an agreement with Nexans which intends to strengthen its position in the multinational’s ownership. In line with such agreement, Invexans appointed three directors to the Board and increased its participation to approximately 20% at the end of 2011. As a result, Invexans acquired a significant influence on one of the leading players of the global industry, including as from 2012 Nexans business results as proportional share in net worth (VPP). Invexans therefore reached a similar size in the cables industry than it had in this sector prior to the sale of the cables unit in 2008, but with higher value-added products, a greater research and development capability and exposure at a global level.
Later, in November 2012, Invexans and Nexans entered into an amendment to the original agreement, by which Invexans could reach up to 28% shareholding interest of the French company.
In 2013, Nexans announced a capital increase of approximately 284 million euro, through the issue of 12.612.942 new shares. Invexans actively participated in this capital increase, subscribing a total 3,195,302 new shares. Also, Invexans increased its interest in Nexans by buying shares in the market until the third quarter of 2014. As of December 31st, 2014, Invexans totaled a 28.97% share in Nexans, appointing three directors of the company, one of them attending the Committee of Compensation and Appointments and the Strategy Committee, the latter being responsible for reviewing and monitoring the strategic plan of the French multinational.
Web Site: http://www.nexans.com