Reuters – Private Equity Backs Euskaltel

Private equity groups Investindustrial and Trilantic Capital Partners have taken a minority stake in Spanish cable television provider Euskaltel, writes Reuters. The private equity firms have taken a 48 percent stake in the Basque region’s sole cable company, writes Reuters.

Reuters – Private equity groups Investindustrial and Trilantic Capital Partners have taken a minority stake in Spanish cable television provider Euskaltel.

Investindustrial, the buyouts group backed by Italy’s Bonomi family, and former Lehman Brothers private equity arm Trilantic said on Monday they had taken a 48 percent stake in the Basque regions sole cable company.

The purchase price was not disclosed, but exceeds 200 million euros ($261.20 million), the buyers said in a statement.

The firms bought the stake in the buiness from the current shareholders KutxaBank, Iberdrola, Endesa, Mondragon and a number of Basque government-related entities.

($1 = 0.7657 euros) (Reporting by Simon Meads)