Partial sale values TDC at DKK 65bn

The offer price was set at DKK 51 and gave the Danish telecoms operator a market capitalization of DKK 41.5bn. With net debt of DKK 23bn, this gives the company an enterprise value of DKK 64.5bn. The consortium, which owned an 87.9% stake in the company, will own 55.4% after the transaction if the over-allotment option is fully exercised.

If the over-allotment option is fully exercised, the offering will raise DKK 12.3bn for the private equity consortium. Additionally, DKK 8.7bn will be raised through the share buyback of TDC.

The consortium acquired an 87.9% stake in TDC in 2005.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Viktor Lundvall on +44 20 7004 7476 or viktor.lundvall@incisivemedia.com

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