Kabel Deutschland (KDG) has ended weeks of speculation with confirmation that it will press ahead with an IPO. Majority owners Providence Equity Partners had been exploring the possibility of an outright sale of the company.
“The IPO will only be comprised of shares sold by the existing shareholder,” the operator has confirmed. No further details have been given.
Kabel Deutschland is believed to have received a total of five bids that priced the company between €5 billion and €5.5 billion. Advent International, Bain Capital, Carlyle Group, CVC Capital Partners and Hellman & Friedman were said to be the bidders.
