Belgian holding group Deficom and PE firm Apax have entered exclusive talks to acquire French cableco Numericable’s assets in Belgium and Luxembourg.
The two groups are in advanced negotiations regarding a deal that bankers have valued at…
Belgian holding group Deficom and PE firm Apax have entered exclusive talks to acquire French cableco Numericable’s assets in Belgium and Luxembourg.
The two groups are in advanced negotiations regarding a deal that bankers have valued at E300m-E350m
According to a statement released on 14 May by Deficom, which is led by former Numericable chairman Philippe Lhomme, the deal will see it acquire 60% of the assets, with the remainder going to Apax.
The Deficom group was formed by bringing together Belgian entrepreneur Lhomme with local PE firm Altice, which also has a minority stake in Numericable.
Sources had previously said that PE firms were steering clear of the auction because of the presence of Belgian cableco Telenet, which was perceived as a frontrunner.
However, two bankers close to the process told TelecomFinance that PE firms would likely return if obstacles such as competition concerns pushed cash-rich Telenet out of the running.
Telenet is thought to have hired Credit Agricole and Lazard as advisers, while Numericable is being advised by Rothschild.
