Luxembourg based Cable Holding, the largest shareholder of Kabel Deutschland, has successfully placed 20 million shares – equivalent to half its interest in the cabler – through Goldman Sachs International to institutional investors for €38.00 per share.
With the placement, more than 70 million shares, representing approximately 78% of the operator’s total 90 million shares, are in the free float, increasing liquidity in the stock and strengthening the company’s MDAX ranking. Cable Holding, part of Providence, remains the largest shareholder with approximately 22% of the share capital in Kabel Deutschland Holding.
Cable Holding voluntarily agreed to another three months lock up period for its remaining stake in Kabel Deutschland Holding.
Following the placement, Providence Equity Partners, the largest shareholder behind Cable Holding, continue to hold a substantial investment in Germany’s largest cable operator.