Orion Cable is to establish a €365 million debt facility through its parent company Escaline S.a r.l. The plan is to use the proceeses to purchase additional preference shares in Orion Cable and Escaline, repay existing debts, and finance the potential acquisition of other retail cable operators in Germany.
In a statement the company named PepCom GmbH and PrimaCom AG as potential targets as well as new contracts with housing associations. “The Company is currently evaluating various acquisition options and has not reached any decision with respect to any acquisitions, and there can be no assurance that any acquisitions will be consummated,” it said.
Earlier this month Unity Media announced it was selling the remaining part of the TeleColumbus business to Orion Cable.
