Providence's KDG headed for IPO
Providence’s Kabel Deutschland is said to conduct an IPO at the Frankfurt stock exchange on 22 March, and is expected to issue a total of 52 million shares to raise EUR 700m in capital.
This would represent a sale of a majority of Providence's stake. Providence acquired Kabel Deutschland in 2003 and continues to hold 88% of the company. Several private equity firms expressed an interest to acquire the company, among them Advent International, The Carlyle Group, Bain Capital, CVC Partners and BC Partners.
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