German cable operator Kabel may make its market debut before Easter, if it’s private equity owner, Swedish firm EQT, decides not to sell the group, Reuters reported. Five firms have made offers to buy Kabel, Reuters wrote, including CVC, Cinven and Hellman and Friedman.
(Reuters) – German cable operator Kabel BW [KBWHL.UL] may celebrate its market debut before Easter if Swedish private equity firm EQT [EQTPRK.UL] decides not to sell the group, sources familiar with the deal said on Saturday.
Five parties have so far made offers to buy Kabel BW, two sources told Reuters, including financial investors CVC [CVC.UL], Cinven [CINV.UL], Hellman and Friedman, Providence and Liberty Global (LBTYA.O).
The sources added that EQT was asking for at least 3 billion euros ($4.15 billion) for the Baden-Wuerttemberg-based group.
In an interview with German newspaper Sueddeutsche Zeitung published on Saturday, the head of EQT Germany, Marcus Brennecke said an initial public offering (IPO) of Kabel BW would also be a realistic option.
After a relatively lackluster 2010, Germany’s IPO market is showing clear signs on resurgence, in sync with the wider European market
Issuers are keen to take advantage of buoyant and relatively stable stock markets, bankers say, and — with an extended holiday looming — they are rushing to launch their IPO in the next few weeks.
British racing team Williams Grand Prix Holdings is scheduled to float on the Frankfurt stock exchange next week, while container shipping company Hapag Lloyd [HPLG.UL] and German property group GSW are tipped to float before Easter too.
German bicycle maker Derby Cycle (DCTG.DE) and software group RIB RSTAG.DE completed market debuts earlier this month.
(Reporting by Alexander Huebner and Philipp Halstrick, writing by Josie Cox; editing by James Jukwey)