Leoni explores sale or listing of its wire and cables business
Germany’s Leoni is exploring a sale or flotation of its wire and cables division as part of a broader review of the company’s group structure, Chief Executive Aldo Kamper told Reuters.
Leoni said it will explore a listing or partial sale of its wiring systems division (WSD) separating it from its wire and cable solutions (WCS) business, which supplies the healthcare, factory automation, transportation and automotive markets.
“We need the proceeds to invest into our wiring systems division. With this step we give ourselves new funding opportunities,” Kamper said on Wednesday.
Leoni wants to broaden the product range in its wiring systems division to capture a greater share of business from the auto industry, particularly in energy and data management, the company said. The Cable and wiring system specialist also wants to offer engineering, design and simulation services.