The hottest Lenny plans to spin off the focus of w

2022-07-30
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Lenny plans to split the wire and cable business focus cabling system in early 2020 Lenny plans to split the wire and cable business focus cabling system in early 2020

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original title: these risks have been eliminated Lenny plans to split the wire and cable business focus cabling system in early 2020 Reuters news, Lenny group plans to sell its wire and cable division in early 2020 rather than this year, as Germany continues to restructure in the face of weak industry prospects

the three sources said that although market participants had expected that their consultants Deutsche Bank and UBS would begin to sell the Department this month, Lenny was preparing to package and sell the Department when the annual data were released in early 2020

people familiar with the matter said that private equity companies such as Triton, KPS and platinum are preparing for the sale

Lenny said that it is expected that the spin off of the department accounting for 40% of the group's sales will be completed in due course. Paul McEuen, a company spokesman, said: "the announced divestiture from the wire and cable business will be implemented in fy2020."

as of press time, Triton declined to comment, while KPS and platinum have not commented yet

leoni announced in July that it was exploring the listing or partial sale of its wire and cable solutions (WCS) business, which provides services to the healthcare, factory automation, transportation and automotive markets to pay for planned investment in its cabling systems division (WSD)

Lenny hopes to expand the product range of its wiring system department, so as to obtain a larger business share in the industry of one inspection rod car processed by the automobile and the electronics industry, especially in the field of energy and data management

in March this year, Lenny gave up its 2019 profit target, announced layoffs and resigned as chief financial officer. In May, Lenny said that it was considering all options to ensure long-term financing in the face of the upcoming repayment of € 200million in March 2020

In August, Lenny hired restructuring experts to supervise its ongoing restructuring and said that it was conducting constructive negotiations with creditors who supported its strategy

Reuters reported in December that Indian automotive wiring manufacturer motherson Sumi is negotiating with Lenny on a possible merger, but has not yet reached any deal

however, according to people familiar with the matter, motherson Sumi and other peers including Huber + Suhner (hubn.s), APTIV (aptv.n) and adient (adnt.n) are regarded as unlikely buyers of Lenny wire and cable business

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