TDC’s private equity owners have sold a further 6.8% stake in the Danish telco through an accelerated bookbuild to raise DKr2.49bn (US$430m).
NTC Holding – a PE consortium comprising Apax, Blackstone, KKR, Permira and Providence Equity – sold…
TDC’s private equity owners have sold a further 6.8% stake in the Danish telco through an accelerated bookbuild to raise DKr2.49bn (US$430m).
NTC Holding – a PE consortium comprising Apax, Blackstone, KKR, Permira and Providence Equity – sold 56.3 million shares on the open market at DKr44.27 each. UBS was sole bookrunner on the transaction, which is expected to settle on 4 April.
All PE firms apart from KKR have now sold their interests in the telco, leaving NTC with a stake of around 10%.
NTC has been gradually selling down its holding since 2010, after acquiring a 87.9% stake back in 2005 for US$15.3bn.
It last sold a chunk of TDC in February, when UBS helped it offload 15% of the group for DKr4.74bn (US$851m).
Shares in TDC, the largest mobile operator in Denmark, closed at DKr 44.69 before the sale announcement on 25 March.