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TMCNet:  Providence Equity Partners not to acquire Kabel BW (Kabel Baden-Wurttemberg)

[December 16, 2011]

Providence Equity Partners not to acquire Kabel BW (Kabel Baden-Wurttemberg)

Dec 16, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Following the regulatory approval, Liberty Global, Inc., a US-based cable operator offering video, telephone, and broadband internet services, has acquired Kabel BW Erste Beteiligungs GmbH (KBW), a cable operator, from EQT Funds IV and EQT Funds V.

Update on March 21, 2011: Liberty Global has entered into an agreement to acquire KBW from EQT Funds IV and EQT Funds V for a total consideration of approximately EUR3,160 million.

KBW provides television, broadband internet and telephony services. As of December 31, 2010, KBW's broadband communications network passed 3.7 million homes and served 2.4 million customers who subscribed to 3.9 million basic cable, pay TV, telephony and broadband internet services.

The transaction is expected to close in the second half of 2011.

Rumor (February 17, 2011): According to PE Hub, Providence Equity Partners, Inc., a US-based private equity firm, is one of the bidders to acquire KBW from EQT.

Reportedly, Liberty Global, Inc., Kabel Deutschland Holding AG, Hellman & Friedman LLC, Apax Partners LLP, Cinven Limited and CVC Capital Partners are also in the race to acquire KBW. It is reported that the bidders are willing to pay EUR2,500 million and EQT was hoping for bids closer to EUR3,000 million.

JPMorgan Chase & Co. and Deutsche Bank AG are acting as financial advisors to EQT.

Deal Value (US$ Million) 3394.83 Deal Type Private Equity Sub-Category Secondary Buy-out Deal Status Dead Rumour: 2011-12-15 Deal Participants Target (Company) Kabel BW GmbH & Co. KG

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