GERMANY – BC Partners and Apollo Management's Unitymedia prepares IPO
According to reports, BC Partners and Apollo Management-owned Unitymedia GmbH, a cable operator, is preparing for an IPO at the end of the year or early 2010. The company hopes to raise as much as EUR 500m to 1bn.
Based in Cologne, Unitymedia is a so-called triple play provider, providing broadband internet, telephone and digital TV to 4.6m customers in Germany. The company generated an EBITDA of EUR 107m in the first quarter this year, and reported a turnover of EUR 857m in 2008.
BC Partners holds a 35% stake in the business via the holding company Finakabel Holdings, and Apollo Management holds a 29% stake.
Unitymedia is being advised Morgan Stanley and UBS.
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