Liberty Global wins stake in Ziggo
02 April 2013 |
Liberty Global has acquired a 12.65% stake in Dutch cable provider Ziggo for a total investment of approximately €632.5 million.
The acquisition will see the company obtain 25.3 million shares in Ziggo, at €25 per share, according to a statement.
Liberty expects the minority stake acquisition to be a strategic investment for its presence in the Netherlands where the company already operates its UPC Netherlands subsidiary.
Liberty is expected to pay Ziggo €370 million in dividends during 2013 and as the transaction will not result in Liberty holding a majority stake in the company, no regulatory approvals are required.
Liberty Global made a $23.3 billion bid for Virgin Media in February this year, in the same month that Ziggo secured a €800 million credit facility.