Telediffusion de France SAS' private equity owners were seeking higher than Eur4 billion, which is equivalent to US$5.1 billion, for the corporation's French unit. Telediffusion de France SAS was a broadcast-tower operator. The information about the sale of the said unit came from sources with knowledge of the transactions.
Next month, TPG Capital, Axa Private Equity, Charterhouse Capital Partners LLP and Fonds Strategique d'Investissement, a French state-backed investment fund, would be set to get first-round proposals. The stockholders were pursuing business valuations for TDF's unit in France. The estimate that they were expecting was about 11 times of earnings before interest, taxes, depreciation and amortization. This was computed to be roughly Eur400 million in 2013.
Paris-headquartered TDF's stockholders were advised by Goldman Sachs Group Inc. and Rothschild.
In 2011, TDF contemplated on selling shares in an initial public offering. However, due to moneylenders' consent, TDF was able to extend the maturity of its Eur4 billion loan to 2016. It was also allowed to sell bonds.
The private-equity owners already received offers from television networks, radio stations and telecommunications operators.
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