Ratos’ Canal Digital add-on gets a no-go
Ratos has decided not to pursue the bolt-on of Canal Digital’s cable-TV operations for portfolio company Stofa.
The reason behind the decision is the low likelihood of obtaining approval from competition authorities. Ratos announced the deal in January this year and at the end of March, Danish competition authorities launched a thorough investigation into the deal. If the deal had been given clearance, it would have given the Danish cable TV business of Canal Digital AS an enterprise value of DKK 100m.
Ratos acquired Stofa in July 2010 for an enterprise value of DKK 1.09bn, injecting DKK 528m equity and arranging a senior debt package with Handelsbanken.
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