Sweden's EQT sells Kabel BW to US firm for 3.16 bn euros
Sweden's EQT fund announced Monday it was selling Kabel BW, Germany's number three cable operator, to US-based Liberty Global for 3.16 billion euros ($4.49 billion).
"EQT's Funds IV and V today announced that they have agreed to sell Kabel BW, Germany's third largest cable network provider, to US media company Liberty Global Inc. for a total enterprise value of 3,160 million euros," EQT said in a statement.
Kabel BW has some 2.3 million clients in Germany.
EQT bought the company in 2006 from private equity group Blackstone.
Liberty Global Inc. operates broadband services serving 17.7 million clients in 14 countries, including Germany's Unitymedia, Switzerland's Cablecom and Belgium's Telenet, as well as VTR in Chile and AUSTAR in Australia.
© 2011 AFP