Cinven Cable Investments and WP Holdings IV BV are said to be reducing its shareholdings in Ziggo NV. The shares amounted to Can$40 million, representing 20% of Ziggo's ordinary share capitalization.
The combined ownership of Cinven, Warburg Pincus and other investors is at 74.2 million shares or 37.1% of the ordinary capital share. Should the transaction be completed, the investment would own just 34.2 million shares or just 17.1% of the issued stock. The offered shares would be put in private placement for investors on a Reg S basis and US Qualified Institutional Buyers under an existing exemption. The final price per share and number of shares sold would be determined after completion of the consolidation.
Ziggo is a service provider of communication, entertainment and information services through television, telephony and the Internet. Its current client base is at 1.8 million internet subscribers, 2.2 million digital television subscribers and 1.5 million telephony subscribers.
Join the Conversation