Dutch telco KPN has completed the sale of Getronics International to two overseas private equity firms in two separate transactions.
The company said in a statement it has sold a majority stake in Getronics Europe and APAC – which provides internet…
Dutch telco KPN has completed the sale of Getronics International to two overseas private equity firms in two separate transactions.
The company said in a statement it has sold a majority stake in Getronics Europe and APAC – which provides internet services in seven countries in Europe and five in Asia-Pacific – to Munich-based investment firm Aurelius AG. KPN retains a minority stake.
The Latin American business, Getronics LATAM, which operates in Brazil, Colombia and Mexico, sold to Los Angles-based private equity firm OpenGate Capital.
KPN did not disclose the financial details of the transactions but said Getronics Europe and APAC generated revenues of about €450m in 2011, while Getronics LATAM generated revenues of about €115m.
KPN – the Netherlands’ largest telecoms provider – said the divestment of Getronics International, first announced on 24 January, forms part of its strategy for “strengthening its global delivery capabilities for major international clients through partnerships”.
KPN reported disappointing financial results for 2011 and stated it planned to streamline its operations, products and services this year. Last month, the company confirmed it was exploring “strategic options” for its Belgian unit Base, speculated to have attracted interest from several private equity investors.
