30 Apr 2007
Milan - Prysmian, the cable company spun off from Pirelli in 2005 is seeking to raise up to €1400 million in a share offering. Goldman Sachs, the investment company bought around 92 percent of Pirelli's cable activities in 2005 and is now seeking to reduce its stake by half.
Goldman bought the activities that now go under the Prysmian name for a total of € 1180, including €690 million in net debt from Pirelli in 2005. Prysmian had debts of €879 million at the end of 2006.
The company issued pricing information on Saturday, in the Italian language.
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IHT / Bloomberg story
Prysmian Home page (Follow the IPO link on the front page for offer information)
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