Ziggo shareholders sell 20% stake

Ziggo’s main shareholders, private equity firms Cinven and Warren Pincus, are due to sell a 20% stake in the Dutch cable operator business. 

The sale will see the pair sell 40 million shares, at an estimated price of some €1 billion, and will leave them with a combined 17.1% of the business.

The move comes a day after Ziggo said that it had received loan commitments from a number of banks to raise €800m, to partially refinance its existing debt. It said at the time it was also looking at additional refinancing options including a capital markets transaction.

Ziggo said the price per share and the final number of shares sold in the new offering will be decided after determining investor demand.

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