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AO Shearman advises on the financing for the acquisition of Encore Wire Corporation by Prysmian

Published Date

Jul 25, 2024

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Prysmian, a leading global cabling solutions provider, has completed the acquisition of Encore Wire Corporation, the leading manufacturer of copper and aluminum for residential, commercial and industrial wire needs in North America. The acquisition will strengthen Prysmian’s leadership position in North America, as Prysmian will benefit from the efficiency and innovation within Encore Wire’s unique production, distribution process and service levels.

A&O Shearman advised the pool of financial institutions (including BNP Paribas, Citi, Crédit Agricole Corporate and Investment Bank, Goldman Sachs, HSBC and Intesa Sanpaolo as Joint bookrunners and Mandated lead arrangers) in respect of the EUR3.4 billion facilities entered into by Prysmian in order to fund the acquisition.

A&O Shearman team was led by partner Stefano Sennhauser and counsel Frederic Demeulenaere who were assisted by senior associate Evangeline Schumacher, associate Alessandro Carta Mantiglia Pasini and trainee James Ahari with counsel Elia Clarizia and senior associate Simona Simone providing the Italian tax input.

A team from the A&O Shearman New York office led by consulting lawyer Livia Talenti provided assistance on the US-related elements of the financing with counsel Dustin Plotnick providing US tax input.