The Prysmian Group announced that it has received a binding offer from Carlisle Companies Incorporated for the acquisition of the business of Draka Fileca SAS (Fileca) in a transaction valued at €73 million.

A press release said that Fileca, which was acquired by Prysmian in 2011 as part of the Draka acquisition, is a global supplier of highly engineered cables for the aerospace and space end markets. Based in France, it generates revenues of €44 million and reported adjusted EBITDA of approximately €5 million in 2018. Fileca, provided first generations of aerospace cables to the Concorde program.

The transaction is expected to be completed during the first quarter of 2020.