Deutsche unquote" June 2011
KKR has acquired 97% of German telecommunications service provider Versatel in a take-private that values the company at around €560m.
The company is listed on the Frankfurt stock exchange and KKR has agreed with the main shareholders on a price of €5.50 per share. The firm has a total of 44 million shares and net debt of €316.8m. The vendors were Apax Partners, Cyrte Investments BV and United Internet AG, which collectively held 92% of the total issued and outstanding shares of Versatel. KKR acquired a further 5% from other shareholders in order to attempt a squeeze-out.
In the June edition of Deutsche unquote":
* Austria: PE demand exceeds offer
* Large exits on the up
* Mezzanine: Waiting for the rain
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