UNQUOTE

NL-Cinven and Warburg Pincus to acquire Casema

  • Wietske Blees
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Cinven and Warburg Pincus have reportedly reached an agreement with Carlyle, Providence Partners and GMT Communications to acquire Casema for around EUR 1.2bn. Carlyle and Providence each hold a 46% stake in Casema, with GMT Communications making up the balance. The consortium purchased the company in 2002 for EUR 665m from France Telecom.

It is understood that BC Partners, Macquari Bank and Liberty Global were also in the race for Casema, currently the Dutch third largest cable company.

The transaction is testimony of the continuing appetite of private equity and trade buyers for the cable sector. Warburg Pincus for example, recently acquired Multikabel, also a Dutch cable operator, while cable company Kabelcom, currently owned by Dutch energy utility Essent, has also attracted offers from the Cinven- Warburg Pincus, BC Partners, Macquari Bank and Liberty Global. Kabelcom is expected to attract offers of around EUR 2.5bn.

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