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Warburg Pincus completes exit from Ziggo

Ziggo logoWarburg Pincus has successfully completed its exit from ownership of Dutch cable operator Ziggo, after selling its remaining shares in an accelerated bookbuild exercise.

The sale of the final stake followed Ziggo’s IPO in March – the largest European initial public offering since July 2011 – and three further sell-downs in July and October 2012 and March this year.

Warburg Pincus raised €329 million from today’s sale, taking its total return from its investment in Ziggo to €1.7 billion.

“Ziggo has delivered strong performance and an excellent return for shareholders since its IPO and has established a strong institutional investor base,” said Joseph Schull, head of Warburg Pincus in Europe. “We are proud to have backed and supported an outstanding entrepreneurial management to build the leading European cable operator, beginning with our investment in Multikabel in 2005.  We believe that Ziggo is well positioned to deliver continued value creation through innovative services for its customers, building on its impressive track record to date.   We thank the company and its management team for their partnership over the past seven years and wish them continued success in future.”