General Cable to acquire majority interest in Procables S.A. of Colombia further expanding its market position in Latin America

General Cable Corporation (NYSE: BGC), one of the most globally diversified industrial companies, announced today that it has agreed to acquire a majority interest (60%) in Procables S.A (Procables) for total consideration of $45 million, subject to typical adjustments for net working capital and net indebtedness levels. The transaction is expected to close in the second half of 2012, subject to receipt of regulatory approval. The Sredni Group will maintain a 40% interest in the business.

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