Buyout shop Apax Partners has teamed up with Deficom Telecom to acquire certain assets of French cable operator Numericable. The two companies will pay more than 350 million euro ($493 million) for Numericable’s units in Belgium and Luxembourg. Deficom is based in Luxembourg.
Apax Partners LLP and Deficom Telecom intends to acquire Belgian and Luxembourgoise assets of Numericable, a France-based cable operator, for more than EUR350 million.
Apax is a UK-based private equity firm, while Deficom is a Luxembourg-based company formed by consortium of local investors and led by Belgian entrepeneur Philippe Lhomme.
Under the agreement, Deficom Telecom will acquire 60% of the cable networks, with 40% going to Apax. Numericable Belgium serves 150,000 customers, mainly in Brussels, Wemmel and Drogenbos, and the Luxembourgoise network counts about 30,000 subscribers, which represent about 25% of the total cable TV market.
Deal Value (US$ Million) 502.07 Deal Type Private Equity Sub-Category None Deal Status Announced: 2011-05-12 Deal Participants Target 1 (Company) Numericable – Assets – Luxembourg Target 2 (Company) Numericable – Assets – Belgium Acquirer (Company) Deficom Telecom Vendor (Company) Numericable