Cinven, Warburg Pincus and their co-investors intend to sell around 40 million ordinary shares in Ziggo via accelerated bookbuild.
These major shareholders have announced an offering, the equivalent to 20% of Ziggo’s ordinary share capital.
The current direct combined ownership interest of Cinven, Warburg Pincus and their co-investors is 74.2 million shares, representing 37.1% of Ziggo’s ordinary share capital.
After the completion of the transaction the investors will own a combined 34,2 million shares in Ziggo, representing approximately 17,1% of the capital.
The shares offered in the Offering will be placed in a private placement to investors outside the United States on a Reg S basis, and to US Qualified Institutional Buyers under an available exemption.
The price per share and the final number of shares sold will be determined on completion of the bookbuilding.
On Monday, March 18, Ziggo announced that it has received commitments from a number of banks to provide a new €800mn senior secured credit facility, which will consist of a €400mn revolving credit facility and a €400mn term loan.
