05/07/2012
APAX, CVC, CARLYLE AND TRILANTIC FINALISTS FOR THE 49% ACQUISITION OF EUSKALTEL.
The private equity firms Apax Partners, CVC Capital Partners, Carlyle and Trilantic are the finalists to acquire up to 49% of Euskaltel, owned by Kutxabank. The deal’s completion is expected later this month, and values the telecommunications operator at €800 million.
Euskaltel recently paid half of that sanction. The problem was the other 111 million remaining. Shareholders, including Endesa and Iberdrola, have decided to subscribe a capital increase by that amount and continue with the sale.
Apax has to Carlyle and CVC as opponents, already battling time ago for Telecable acquisition. Finally Carlyle acquired 80% of the Asturian operator controlled so far by Liberbank (see news). In April 2010 CVC acquired 35% of R, the Galician cable operator in hands of Novagalicia and Banco Pastor (see news).