Prysmian

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Prysmian was an Italian-based multinational corporation headquartered in Milan, leading player in the industry of high-technology cables and systems for energy and telecommunications.

The company was originally founded in 1879, as Pirelli Cavi e Sistemi. Indirectly controlled by The Goldman Sachs Group Inc., the company signed an agreement in 2005 to purchase the Cables and Systems division of Pirelli & C. S.p.A. On June 1, 2005, Prysmian Srl signed an agreement to purchase the Energy Cables and Systems and Telecom Cables and Systems activities of Pirelli & C. S.p.A. The transaction was completed on July 28, 2005, after regulatory approval by the relevant antitrust authorities.

On January 16, 2007 Prysmian Srl was transformed into a stock corporation called Prysmian SpA and quoted in the FTSE Mib index of the Milan stock exchange.

On 22 November 2010 Prysmian announced its intention of making a public mixed exchange and cash offer for the shares of Draka,[1] a Dutch cable manufacturer and one of the world's top cable makers. The offer was launched on 5 January 2011 and concluded successfully on 8 February 2011.

The 2011 merger of Prysmian and Draka, and the combination of the two market-leading companies, culminated in the creation of the world's largest cable maker by revenue,[2] the Prysmian Group.

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