Sumitomo Electric Industries, Ltd. (TSE:5802) signed an share purchase agreement to acquire 90% stake in Südkabel GmbH from Wilms GmbH on June 6, 2024. In a related transaction, signing ceremony for these HVDC projects took place in Berlin on June 5, 2024 for Korridor B V49 and part of the Rhein-Main-Link project are large-scale projects, and the HVDC cable to be delivered will be manufactured at Südkabel. Post completion of the acquisition, Sumitomo Electric will also invest ?90 million to increase Südkabel's cable production capacity.

Südkabel Revenue in FY2023 is approximately ?140 million. The transaction is subject to approval by regulatory board / committee. The acquisition process is currently expected to be completed as of October 1, 2024.

Nefail Berjasevic, Markus Rasner, Till Liebau, Anna-Catharina von Girsewald, Marc Krischer, Gunnar Knorr, Jörn Kuhn, Jürgen Hartung, Marco Degginger, Carsten Bormann and Marc Alexander Häger of Oppenhoff acted as legal advisor to Wilms.