Liberty Global to buy Unitymedia for EUR3.5 billion

13 Nov 2009

Liberty Global Inc (LGI) has entered into a definitive agreement to acquire 100% of the share capital of German cable operator Unitymedia from private equity owners Finakabel Holdings/BC Partners and Apollo Management. The terms of the deal place an equity value of EUR2 billion (USD2.98 billion) on Unitymedia and an enterprise value of EUR3.5 billion. ‘This transaction marks an exciting new phase in Unitymedia’s development and brings significant benefits to our customers, employees and other stakeholders,’ stated Parm Sandhu, CEO of Unitymedia, adding, ‘With LGI’s backing Unitymedia will become an even stronger competitive force in the newly emerging triple-play market and will continue to play a leading role in transforming Germany’s cable industry long into the future.’ Mike Fries, president and CEO of LGI, commented: ‘We are excited about this transaction as it complements our existing European footprint and has significant untapped growth potential in one of the fastest growing cable markets in Europe. The addition of Unitymedia not only enhances our European presence, but adds significant scale to our global operations, as our footprint, including Unitymedia, will exceed 40 million homes.’ The transaction is expected to take place in the first half of 2010 and is subject to regulatory approval.

Germany, Liberty Global (incl. LGI), Unitymedia