Cinven, Warburg Pincus Exit Ziggo With $1.1B Stock Sale

Law360, New York (April 26, 2013, 3:17 PM EDT) -- A group of private equity firms led by Cinven and Warburg Pincus LLC have completed their divestment of Dutch cable company Ziggo NV, selling off their remaining 17 percent stake in Ziggo for roughly €880 million ($1.1 billion) in an accelerated bookbuilding, the PE firms said Friday.

Cinven and Warburg Pincus, along with several unnamed co-investors, sold 34.2 million common shares of Ziggo at €25.75 per share, a 7.5 percent discount to the Dutch firm's closing price of €27.85 on the NYSE Euronext exchange in Amsterdam Thursday....
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