The private equity firm owners of Dutch cableco Ziggo have reportedly mandated four additional banks for its postponed initial public offering.
Cinven and Warburg Pincus have appointed HSBC, Nomura, ABN Amro Bank and Rabobank as co-lead managers for…
The private equity firm owners of Dutch cableco Ziggo have reportedly mandated four additional banks for its postponed initial public offering.
Cinven and Warburg Pincus have appointed HSBC, Nomura, ABN Amro Bank and Rabobank as co-lead managers for the IPO, Dow Jones reported, citing sources familiar with the situation.
Global coordinators for the deal, Morgan Stanley and JP Morgan Chase, and joint bookrunners, Deutsche Bank and UBS, were hired in April 2011 for an offering initially set to take place later that year.
However, economic turmoil in Europe prompted Cinven and Warburg Pincus to delay the IPO until 2012.
Plans for the 2011 IPO reportedly valued Ziggo – the product of a merger between three rival cablecos – at up to €7bn, with Cinven and Warburg expected to sell between 25% and 30% of shares. Dow Jones said it is unclear whether this has changed.
Ziggo posted revenue of €1.5bn for 2011 – a 7.4% increase on the previous year. At the time, the Utrecht-based company attributed the growth to more customers opting for multiple services, such as phone and internet.
