GERMANY - BC Partners and Apollo sell Unitymedia for EUR 3.5bn

UBS Investment Bank acted as lead financial advisor to Unitymedia in the transaction. Unitymedia was also assisted by Morgan Stanley, Nomura, HVB and Latham & Watkins.

BC Partners and Apollo Management were originally weighing up an IPO for Unitymedia, which was expected to raise at least EUR 300m. Last year, the private equity firms already evaluated the possibility for an initial public offering of the company, but the plans stalled.

Unitymedia, headquartered in Cologne and founded in 2005, is a triple-play cable company, offering TV, internet and telephone services. The company employs 1,591 people, posted sales in 2008 of EUR 365.5m and is 35% owned by BC Partners and 29% by Apollo Management.

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