© Leoni AG (illustration purpose only)
Components | July 10, 2019
Leoni considers sale of its Wire & Cable Solutions division
German manufacturer Leoni AG, based in Nuremberg, is preparing a separation of its Wire & Cable Solutions (WCS) division through a a stock market listing or sale, including the option of a partial sale.
To date, no final decision has been taken in this regard. Following a potential separation, Leoni’s primary focus would be on the development of its Wiring Systems Division (WSD). To this end, Leoni has begun to mandate respective advisors. Leoni will inform shareholders and the public as soon as relevant developments arise.
The decision to prepare a separation of its WCS division followed a further review of the existing group structure and strategy for each division in the context of the previously announced VALUE 21 programme. This also included a review of the optimal future ownership structure of WCS and WSD to determine how both divisions can achieve their full potential, a press release reads.
As communicated, Leoni’s Board of Directors sees only very limited synergies between both divisions and intends to increase their operational independence. In this context, corporate support functions will transfer from the holding company to the divisions. WCS increasingly focuses on advanced and intelligent cable solutions and services and WSD further enhances its energy and data solutions and services related capabilities.
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