Clifford Chance has advised Prysmian group on the acquisition of the copper data cable operation located in Neustadt bei Coburg, Germany, from Corning Optical Communications GmbH & Co. KG. The closing of the acquisition is subject to customary closing conditions.

The acquired business reported sales of approximately EUR 22 million in 2015 and consists of a plant for the production of CAT5, CAT6 and CAT7 cables.

Prysmian group is world leader in the energy and telecom cables and systems industry. With sales of approximately EUR 7.5 billion in 2015 and more than 19,000 employees across 50 countries and 88 plants, the group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how.

The investment will enhance Prysmian's product offering for high-capacity and flexible cable for data transmission and data centre solutions.

The Clifford Chance team was led by partner Dr. Nicole N. Englisch and comprised associate Timo Probst (both Corporate), partner Tim Schreiber and senior associate Dr. Alexander Weiss (both IP) – all Munich –, partner Dr. David Elshorst and senior associate Amrei Fuder (both Real Estate, Frankfurt) as well as partner Marc Besen (Brussels/Düsseldorf) and senior associate Dr. Dimitri Slobodenjuk (Düsseldorf, both Corporate/Antitrust).