TDC ‘almost 100%’ certain to accept EUR10.2 billion leveraged buy-out

1 Dec 2005

Danish telecoms group TDC yesterday agreed to be bought by private equity consortium Nordic Telephone Company, in a EUR10.2 billion leveraged buy-out (LBO) deal, worth EUR13 billion including assumed debt. TDC chairman Thorleif Krarup said that ‘there is an almost 100% probability that this bid will succeed,’ whilst Kurt Björklund, of Permira, one of the five funds in the consortium, said there was ‘a very high degree of certainty’ that the deal would be completed. The other consortium members are Apax, Blackstone, Kohlberg Kravis Roberts and Providence Equity Partners. The TDC board has issued a recommendation to shareholders to accept the offer.

Denmark, TDC (YouSee), TDC Group (old)