Providence Equity Partners To Takeover German Kabel Deutschland

Providence Equity Partners has now received clearance from regulatory authorities in Germany to complete its takeover of Kabel Deutschland (KDG), the German cable giant. Providence Equity agreed in December 2005 to buy out the KDG stakes owned by fellow shareholders

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Providence Equity Partners has now received clearance from regulatory authorities in Germany to complete its takeover of Kabel Deutschland (KDG), the German cable giant.

Providence Equity agreed in December 2005 to buy out the KDG stakes owned by fellow shareholders Apax Partners and Goldman Sachs Capital Partners.

Following the regulatory approval, the transaction will close by February 8, 2006. The acquisition will give Providence control of approximately 95% of Europe’s largest cable company with the rest held by KDG’s management.

Providence Equity which already holds substantial investments in European cable companies in the Netherlands, Spain and Sweden (pending), will uphold KDG’s strategy to transition from a traditional analog cable TV company into a cable service provider. KDG operates the cable networks in 13 German states.

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