Nexans invests in Shandong Yanggu New Rihui joint venture

Cable industry expert Nexans has acquired a 75 per cent stake in the Shandong Yanggu New Rihui joint venture in China, alongside its historical shareholder.

The company believes the acquisition will give it a strategic footprint in the growing Chinese energy infrastructure market.

The transaction values the business (100 per cent basis) at approximately 1,240m RMB (approximately £122m) on an Enterprise Value basis.