UK-based private equity firm CVC Capital Partners plans to list Swiss mobile operator Sunrise as soon as possible, according to news sources citing an article in Swiss newspaper NZZ.
CVC partner Lorne Sommerville is also cited insisting that plans to…
UK-based private equity firm CVC Capital Partners plans to list Swiss mobile operator Sunrise as soon as possible, according to news sources citing an article in Swiss newspaper NZZ.
CVC partner Lorne Sommerville is also cited insisting that plans to invest SFr1bn (E762m) in Sunrise over the next five years will stay in place.
Last Friday, CVC announced that it had reached a definitive agreement with Danish incumbent TDC to acquire its subsidiary Sunrise for SFr3.3bn (E2.51bn).
TelecomFinance understands 70% of the deal was financed through debt split between loans and bonds.
For the loans, global coordinators and MLAs were BNP Paribas, Deutsche Bank and UBS. Societe Generale and Unicredit were MLAs and joint bookrunners.
Global coordinators for the bonds were Deutsche Bank and BNP Paribas, with Societe Generale, UBS and Unicredit as joint bookrunners.
Deutsche Bank and BNP Paribas acted as M&A advisors to CVC, while Morgan Stanley and UBS acted as M&A advisors to TDC.
The acquisition is still subject to approval from the Swiss competition and relevant regulatory authorities.
