Prysmian eyes organic growth as well as M&A after Encore deal, CEO says
Recasts headline and lead explaining U.S. deal refers to April announcement
MILAN, May 30 (Reuters) -Cable maker Prysmian PRY.MI will look to organic growth as well as acquisitions to expand, its chief executive said on Thursday, as it looks to complete a $4.2-billion deal announced last month.
"We are working on organic growth and also on M&A and a big one is going to materialise in the U.S.", CEO Massimo Battaini said during an online event regarding its acquisition of Encore Wire WIRE.O.
The U.S. competition watchdog on Wednesday gave its green light to that deal. Encore has called a shareholder meeting on June 26 to give final approval to the transaction.
Prysmian expects the acquisition to complete in the second half of the year.
Reporting by Giancarlo Navach, writing by Claudia Cristoferi, editing Gianluca Semeraro and Jason Neely
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