# Prysmian to acquire 60% stake in Nicco Corporation's cable business

Prysmian Cables & Systems entered into a definitive agreement with Indian Nicco Corporation to form a joint venture company, Nicco Cables Ltd., in which Prysmian will hold a 60% majority stake. Prysmian's total investment is approximately €24 million, and the new company will acquire all of Nicco Corporation's cable activities.

- Type: Acquisition
- Announced: 2023-12-22
- Where: India
- Value: $35.0M (24.0M EUR)
- Status: announced
- Products: medium voltage power cables, low voltage power cables, industrial cables
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Prysmian Cables & Systems](https://endata.com/companies/74618.md) (acquirer)
- [Nicco Corporation](https://endata.com/companies/74619.md) (target)

## Sources

- [cabledatasheet.com](https://www.cabledatasheet.com/cablenews/news/prysmian-entered-into-a-definitive-agreement-with-indian-nicco-corporation-for-a-majority-stake-of-a-new-jv-cable-company-prysmian/), 2023-12-22: "Prysmian will be the majority shareholder of the new Company, named Nicco Cables Ltd, with a stake of 60% (Nicco Corporation will own the remaining 40%)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.