Cinven and Warburg Pincus have successfully placed approximately 34 million ordinary shares of Ziggo at a price of €25.75 per share.
The direct combined ownership interest of Cinven, Warburg Pincus and their co-investors is approximately 34 million shares, representing approximately 17% of Ziggo’s ordinary share capital.
After the completion of the transaction, Cinven, Warburg Pincus and their co-investors will cease to own any interest in Ziggo.
The two private equity firms created Ziggo five years ago through the merger of three smaller cable operators, Multikabel, Casema and Essent @Home. Cinven said in a statement that it has made 2.8 times its initial investment in the operator.
Liberty Global is now the largest shareholder in the company, after acquiring a 12.65% stake in Ziggo in an earlier divestment by Cinven and Warburg Pincus in March.