Business
Prysmian to buy Spain's ACSM for 169 million euros, boosting submarine cable leadership
Prysmian to buy Spain's ACSM for 169 million euros, boosting submarine cable leadership
About this update from Prysmian S.p.a.
Italy's cable maker Prysmian MIL:PRY plans to buy Spain-based ACSM, a submarine cable installation company, in a 169-million-euros ($198 million) deal, it said on Friday.The world's largest cable maker said the transaction will be funded using cash from its balance sheet and is expected to close by February.The acquisition will bring subsea surveying, seabed preparation and installation capabilities in-house, it said.($1 = 0.8523 euros)