BICC Plc has agreed to pay $157m for the Ceat Cavi SpA cable making subsidiary of Fornara SpA: a large part of the price is in the assumption of $95m of debts to Fornara, the balance being met with 10.2m of new BICC shares which will give Fornara 4.3% of the expanded equity of BICC; the business being acquired had operating profits of $30m on turnover of $170m last year, and net operating assets of some $81m.