Liberty Global buys Kabel BW for EUR 3.16 billion

News Broadband Germany 22 MRT 2011
Liberty Global buys Kabel BW for EUR 3.16 billion
Liberty Global has agreed to buy German cable operator Kabel BW for EUR 3.16 billion. Kabel BW is the third largest cable operator in Germany and is controlled by EQT Funds IV and V. The operator's network passes 3.7 million homes in Baden-Wuerttemberg, and the company counts 2.4 million customers subscribed to TV, telephony and broadband services. The deal adds to Liberty's German footprint, started last year with the takeover of Unitymedia with 4.6 million customers in the contiguous states of Hesse and North Rhine-Westphalia. The KBW takeover price represents a multiple of 8.1 times estimated 2011 EBITDA, adjusted for expected synergies from the integraton of the acquisition. Subject to regulatory approval, the acquisition is expected to close in the second half of 2011. EQT will recapitalise KBW ahead of the deal, issuing EUR 2.25 billion in new debt financing, which Liberty Global will assume at closing.

Categories:

Fixed

Companies:

Kabel BW,  Liberty Global,  Unitymedia

Countries:

Germany

Tags:

Voice services, Cable - Docsis, Internet Access, Wholesale, M&A buyouts & divestments

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