Reuters logo
BRIEF-Prysmian says synergies from merger with General Cable likely higher than forecast
December 4, 2017 / 8:50 AM / in 8 days

BRIEF-Prysmian says synergies from merger with General Cable likely higher than forecast

Dec 4 (Reuters) - Prysmian executives tell analysts in a conference call after agreement to buy U.S. rival General Cable:

* PRYSMIAN CEO SAYS MAY FIND ADDITIONAL SYNERGIES FROM WORKING CAPITAL

* PRYSMIAN CFO SAYS SEES ADDITIONAL 35-40 MILLION EURO SYNERGIES COMING FROM FINANCIAL COSTS

* PRYSMIAN CEO SAYS COMBINED GROUP WITH GENERAL CABLE WILL GENERATE 28 PERCENT OF SALES IN NORTH AMERICA, 54 PERCENT OF SALES IN EMEA

* PRYSMIAN CEO SAYS COMBINED GROUP WITH GENERAL CABLE WILL GENERATE 36 PERCENT OF SALES FROM ELECTRIC UTILITY BUSINESS

* PRYSMIAN CEO SAYS SUBSTANTIAL PART OF SYNERGIES WILL BE ACHIEVED IN THE FIRST THREE YEARS

* PRYSMIAN CFO SAYS GROUP WILL CONVERT 300 MILLION EURO CONVERTIBLE BOND IN SPRING 2018

* PRYSMIAN CFO SAYS REASON FOR POTENTIAL RIGHTS ISSUE OF UP TO 500 MILLION EUROS IS TO CREATE ROOM FOR ADDITIONAL M&A

* PRYSMIAN CEO SAYS COMBINED GROUP WILL GENERATE 400 MILLION EURO FREE CASH FLOW PER YEAR

* PRYSMIAN CFO SAYS IT IS MOST LIKELY THE GROUP WILL LAUNCH A 500 MILLION EURO RIGHTS ISSUE Further company coverage: (Reporting by Milan newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below