Sale of Kabel BW approved by Antitrust Authorities
On March 21, 2011, the EQT IV and EQT V funds announced that an agreement was signed to sell German cable network provider Kabel BW to US media company Liberty Global Inc. for an enterprise value of EUR 3,160 million. The transaction was subject to clearance by German Antitrust Authorities which was anticipated to take up to nine months.
The German Antitrust Authorities today formally announced its approval of the sale of Kabel BW why the ownership will now be transferred to Liberty Global Inc.
“Kabel BW is one of the most successful companies in the European cable market, in terms of sales increase, profits, technology and services”, said Gunnar Asp, previously Chairman of Kabel BW’s advisory board and Industrial Advisor to EQT IV and EQT V in a press release distributed in connection with the initial announcement in March. ”We have from the outset fostered prosperous growth and developed the company as a benchmark for the sector. We are very glad that Kabel BW will in the future be part of Liberty Global Inc. which is one of the most innovative media groups worldwide and will offer a fantastic environment for further expansion so that the Baden-Württemberg customers will continue to benefit from the best services around”, concludes Gunnar Asp.
EQT IV and EQT V Spokesperson
Communications & PR
+46 8 506 55 334
EQT is the leading private equity group in Northern Europe with close to EUR 18 billion in raised capital and multiple investment strategies. Together with a superior network of Industrial Advisors, EQT implements its business concept by acquiring or financing high-quality medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, developing them into leading companies. Development is achieved by applying an industrial strategy with focus on growth. Since inception, EQT has invested more than EUR 10.8 billion in around 100 companies and exited close to 50. EQT-owned companies have more than 550,000 employees.
EQT Partners, acting as investment advisor to the managers of each EQT fund, has around 120 investment professionals with an extensive industrial and financial competence. EQT Partners has offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se