EQT nets five bids for KabelBW
February 18, 2011
Swedish private equity firm EQT has received around five bids in the range of €2 billion to €2.5 billion on its auction of German cable operator Kabel Baden-Wuerttemberg according to reports, in a potential disappointment to EQT on price.
The bidders are said to include US media conglomerate Liberty Global, and private equity firms CVC Capital Partners, Cinven Group, Providence Equity Partners and Hellman & Friedman.
EQT, the private equity arm of Sweden’s Wallenberg family, launched the sale process for Germany’s third biggest cable operator last year, lining up banks in preparation of either an initial public offering or outright sale.