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Carlyle Group swoops for Telecable - 20-October-2011, 18:50

Carlyle Group swoops for Telecable

Iaki Ferreras RapidTVNews | 20-10-2011

The investment fund Carlyle Group is buy 85% of Spanish cable TV operator Telecable together in a deal valued at 400 million.
The transaction will see a reduction in the stake holding of Telecables existing main shareholders Editorial Prensa Ibrica and financial company Liberbank with the lattes holding falling from 91.89% to 15%, reportedly giving the financial firm a cash injection of over 300 million.
Telecable was founded back in 1995 and it operates in the Northern Spanish province of Asturias. The operator has more than 156,000 subscribers, and generated a business volume of 121 million in 2010, 14% more than in the previous year. Carlyle Europe Partners fund was launched in 2006 and it controls some 5.300 billion. Goldman Sachs and Socit Gnrale acted as Liberbanks financial advisers.
Through this operation Telecable now becomes the fourth company in Spain in which Carlyle has taken a major position.




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