PE, infrastructure firms linked with INEA takeover

11 Aug 2017

Polish cableco INEA, which was put up for sale by private equity firm Warburg Pincus earlier this year, has reportedly attracted takeover interest from a mixture of PE and infrastructure companies. According to an unverified report by TMT Finance, suitors include Kohlberg Kravis Roberts (KKR), EQT of Sweden, Alinda Capital, Antin Infrastructure and Infracapital.

Interestingly, the last named company recently won a Polish government tender to deploy and operate GPON fibre infrastructure in rural areas of the country, in association with Nokia. The fibre networks will be operated on a wholesale open access basis, and will serve more than 400,000 homes and 2,500 schools in 13 regions in central and northern Poland.

Warburg Pincus initially invested in Pozna-based INEA in 2013 when the firm acquired a strategic minority stake in the company. Since the investment, Warburg Pincus has increased its shareholding to a majority stake and provided funding to support a major expansion of INEA’s next generation access (NGA) network. The parent company claims that INEA is the leading cable operator in Western Poland.

Poland, Antin Infrastructure Partners, EQT, INEA, Infracapital, Kohlberg Kravis Roberts & Co (KKR)