Cable Holding, the Luxembourg-based subsidiary of investment group Providence Equity Partners, has successfully sold its remaining 22% stake in German cable operator Kabel Deutschland (KDG), raising more than EUR800 million (USD1.16 billion). KDG said in a statement that Cable Holding placed 20 million shares in the company to institutional investors at EUR41.1 per share. According to TeleGeography’s GlobalComms Database, Providence has been reducing its holding in KDG since the operator made its debut on the Frankfurt Stock Exchange on 22 March at EUR22.5 per share, raising EUR759 million. In September 2010 Providence successfully placed 15 million KDG shares via Cable Holding at EUR27.50 each. The sale brought in EUR412.5 million and saw Providence’s shareholding fall from 60.37% to around 45%. In March 2011 Cable Holding placed a further 20 million KDG shares at EUR38 per share, at the same time reducing its stake in the cableco to around 22%.