EQT negotiating further Dutch acquisition

21 Sep 2017

Swedish investment fund EQT is in takeover talks with Dutch fibre/cable triple-play services operator CAIW (Caiway), sources have told Netherlands-based Telecompaper. The potential deal would see EQT expand its Dutch market presence following its purchase of Zeeland-based cableco DELTA in a EUR488 million (USD517 million) takeover and restructuring completed on 1 March 2017. The local report adds that Caiway’s parent fund aims to sell the retail services provider division to concentrate on passive open access network infrastructure operations.

TeleGeography’s GlobalComms Database says that CAIW Diensten (CAIW Services, trading as Caiway) is a wholly owned subsidiary of CAIW Holding, itself owned by the Rabo Bouwfonds Communication Infrastructure Fund – a non-listed Dutch fund backed by institutional investors (part of Bouwfonds Investment Management, a member of Rabo Real Estate Group). The fund bought Caiway in January 2008 from the municipalities of Westland and Midden-Delfland for EUR110 million. In April 2012 the Netherlands’ dominant PSTN operator KPN abandoned a takeover deal for Caiway, following objections from antimonopoly authorities.

Netherlands, DELTA (old), DELTA Fiber Nederland (incl. Caiway), EQT