NTC Holdings further reduces stake in TDC

Investors raised DKK 2.968bn from the sale. The accelerated overnight offering was priced at DKK 37.1 per share, which represents a 4.8% discount from Monday's closing price. JP Morgan was the sole bookrunner. Following the transaction, NTC owns 33% of the company.

The holding company acquired an 89% stake TDC in December 2005 through a voluntary public tender offer amounting to DKK 76bn or DKK 382 per share.

NTC reduced its initial stake to 60.2% in a $2.2bn share offering in December 2010. In February 2012, Morgan Stanley led another offering reducing the share to 43.3%.

TDC (TDC.CO) is listed on the NASDQ OMX Nordic exchange in Copenhagen, with a market cap of DKK 31.64bn.

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• Topics
• Nordics
• Exits
• Denmark
• KKR
• Apax Partners
• Providence Equity Partners
• Permira
• Blackstone Group
• NASDAQ
• Partial sale