Prysmian Group acknowledges that General Cable Corporation’s Shareholders approved at the Special Meeting the acquisition by Prysmian Group of 100% of General Cable’s shares for a consideration of $30.00 per share - as announced on December 4, 2017.  The acquisition includes Norddeutsche Seekablewerke (NSW), which is currently a subsidiary of General Cable and is a major supplier of submarine fiber optic and power cable. 

Approximately 75.34% of the total number of shares of common stock outstanding and entitled to vote at the Special Meeting and approximately 99% of the total votes cast, were in favor of the merger.

Prysmian Group expressed satisfaction for General Cable shareholders’ large majority approval of the acquisition.

Subject to regulatory approvals and other customary closing conditions, the completion of the acquisition is expected to take place by the third quarter of 2018.