General Cable To Acquire Full Control Of Yorkshire Cable

General Cable has announced today that it has reached agreement to acquire from Singapore Telecom International the 50 per cent of Yorkshire Cable it does not already own. General Cable is planning an open shares offer to raise £45m for the acquisition which is believed to be worth around £160m.

Sir Anthony Cleaver, chairman of General Cable, commented: “The proposed acquisition represents an attractive and timely offer to acquire full ownership of YCG, our largest and fastest growing franchise grouping and builds on the progress the company has made since flotation. The acquisition has the full support of our major shareholder, Compagnie Generale des Eaux.”

General Cable: 0171 393 2828