Investors mull Goldman's Prysmian stake buy: source
MILAN - Several investors are looking into buying Goldman Sachs's 16.8 percent stake in Italy's Prysmian SpA, a profitable cable maker, a financial source said on Friday.
Italian business daily Il Sole 24 Ore in an unsourced report earlier on Friday said the Genoa-based Malacalza family is examining a purchase of the expiry of Goldman Sachs's lock-up.
The file is on various tables including that of Malacalza, the source said, adding the Italian investment bank MediobancaMI> has presented the file to various private equity, family and industrial investors.
Goldman Sachs declined to comment. The Malacalza family was not immediately available to comment.
A broker said Malacalza has 1 billion euros in cash after selling steel activities and last year buying a 3.5 percent stake in Camfin which is the largest shareholder in Pirelli.
Goldman was prevented from selling stakes for 60 days after its November sale of a 14.3 percent stake in Prysmian via a placing with institutions.
No formal sale process for the remaining 16.8 percent stake has started and the sale is unlikely to complete before the second half of the year, the financial source said.
South Korea's Taihan Electric Wire Co Ltd owns 9.9 percent in Prysmian and said in November it had no current plans to buy more shares.
At 1252 GMT Prysmian shares were up 0.93 percent at 12.98 euros. Analysts said the Malacalza report was positive for the stock, removing the risk of a further placement.
(Reporting by Massimo Gaia; Editing by David Cowell)
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