Private equity firm CVC Capital Partners is the frontrunner to buy number three German cableco Kabel BW, with a deal likely over the next few days, according to sources cited by Dow Jones. One of the sources said CVC’s bid had come in at some…
Private equity firm CVC Capital Partners is the frontrunner to buy number three German cableco Kabel BW, with a deal likely over the next few days, according to sources cited by Dow Jones. One of the sources said CVC’s bid had come in at some E2.95bn.
Liberty Global, which owns local rival and national number two player Unitymedia, and another private equity firm, Hellman & Friedman, each participated in Wednesday’s final round, but their bids were lower.
An IPO, run by joint bookrunners RBS and BoA Merrill Lynch, however, still remains a possible outcome.
Deutsche Bank and JPMorgan are advising Kabel BW owner EQT, a Swedish private equity group.
CVC declined comment, and representatives for Kabel BW could not be reached by press time.
