CVC leads bids for Kabel BW

CVC has offered €2.95bn for German cable operator Kabel Baden Wuerttemberg.

Kabel BW's owner EQT has been looking to sell the firm for some time, with recent reports suggesting it was looking for an IPO.

The bid from CVC is thought to have beaten rival bidders Hellman & Friedman and Liberty Global.

EQT is expected to decide whether to accept CVC's offer, which is slightly below its €3bn IPO target, later this week.

German GP first acquired the local IT services group in May 2019 via Auctus V, a 2019-vintage

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Large-cap sponsors including Advent, Blackstone, Bridgepoint, CVC, EQT and KKR expected to bid today

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

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Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

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