FCI sells North American-based electrical division to Hubbell for US$360 million
Client
FCI S.A.
Date
October 5, 2009
On October 5, 2009, FCI S.A., a leading manufacturer of connectors for various markets such as automotive, telecommunication infrastructures and consumer and industrial electronics, completed the sale of FCI Americas, Inc. (the business known as "Burndy®") to international electrical and electronic product manufacturer Hubbell Incorporated (NYSE: HUBA, HUBB). The purchase price for the Burndy business was approximately $360 million in cash (net of cash acquired) subject to certain standard adjustments. FCI will cotinue to operate its connectors business in Canada through FCI Connectors Canada, Inc.
FCI was advised on Canadian aspects of this transaction by a team from Fasken Martineau that included, among others, Sean Stevens and Dan Fabiano (corporate); Richard Johnston and Peggy McCallum (pensions); Patrick Gannon, Alix Herber and Dominique Monet (labour and employment); Huy Do (competition); Craig Carter (real estate); Armand Benitah (intellectual property); Mitchell Thaw (tax) and Paul Casuccio (commodity tax); and Rosalind Cooper (environmental).
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