• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • UK / Ireland

eircom

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
eircom, the Dublin-based provider of fixed-line telecommunication services in Ireland, was listed on the London and Dublin Stock Exchanges on 24 March 2004 and trading in the stock commenced on 2 April. Its issue price was E1.55 per share, valuing the company at E1.147bn. This issue came at the lower end of the indicative flotation price range of between E1.48 and E1.75 and was over-subscribed by 2.5 times, according to Reuters. Eircom is raising E300m in new equity, and the issue also involves a secondary offering of E531m of shares held by Providence Equity Partners, Soros Private Equity and Lionheart Ventures. The IPO will change the ownership structure, with Providence Equity Partners, Soros Private Equity and Lionheart Ventures reducing their equity stakes in the business substancially. The Employee Share Ownership Trust (ESOT) was allocated E85m worth of shares to maintain its 29.9% stake in the business. The ESOT holds E330m worth of ordinary shares and E174m worth of preference shares. Directly following the public-to private in 2001 the equity stakes in the newco were as follows: Providence Equity Partners holds 46%; ESOT held 29.9%; Soros Private Equity Partners held 18%; Tony O'Reilly held 5% and Goldman Sachs held 1.5%. Eircom, which was founded in 1984, is the principal provider of fixed-line telecommunication services in Ireland. According to quarterly data published by the Irish telecommunications regulator, it had a market share throughout the three years ended 31 December 2003 of approximately 80 per cent of the Irish fixed-line market, based on turnover.

Previous funding

The public-to-private buyout of eircom, by the Valentia consortium completed on 16 November 2001. The Valentia consortium, consisting of Tony O'Reilly of Lionheart Ventures, Providence Equity Partners and Soros Private Equity Partners, made an offer which was declared unconditional with respect to all conditions on 2 November 2001. The total deal value was E3.0137bn and the funding split was 70% debt and 30% equity. On the debt side, Goldman Sachs and Deutsche Bank were joint bookrunners and Goldman Sachs, Deutsche Bank, Barclays Bank, Allied Irish Banks and Bank of Ireland were joint lead arrangers.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • UK / Ireland

More on UK / Ireland

Fund closes in US dollars
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • Funds
  • 05 September 2023
Clinical trials and biotechnology
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
Public sector software
Partners Group to release IMs for Civica sale in mid-September

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

  • Exits
  • 04 September 2023
EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

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

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013