NTC, the consortium of private equity firms that own TDC, have announced that they hope to raise up to DKr23bn (US$4.12bn) in a sale and buy-back of shares in the Danish incumbent, in a transaction launching December 9.
In a statement cited by the…
NTC, the consortium of private equity firms that own TDC, have announced that they hope to raise up to DKr23bn (US$4.12bn) in a sale and buy-back of shares in the Danish incumbent, in a transaction launching December 9.
In a statement cited by the Financial Times, NTC said they would sell 210 million shares as well as an overallotment option for another 31.5 million shares, for some DKr47 to DKr 56 apiece. It will also buy back DKr9bn worth of shares at the same price between now and December 8.
If these transactions complete, the company would have a valuation of some DKr65bn, which includes net debt of DK23bn.
Private equity owners Blackstone, Permira, KKR and Apax would obtain returns of 2-2.5 times their investment.
