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General Cable Looks to Latin America with Acquisition of Colombia’s Procables SA

General Cable Corp., Highland Heights, Ky., agreed to acquire a majority interest in Procables S.A for $45 million, subject to adjustments for net working capital and net indebtedness levels. The transaction, which gives General Cable a 60% stake in the Colombian cable manufacturer, is expected to close in the second half of 2012, subject to regulatory approval. The Sredni Group will maintain a 40% interest in the business.

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