Hengeler Mueller advises Kabel Deutschland on acquisition of Tele Columbus
22. May 2012
Kabel Deutschland Holding AG („Kabel Deutschland“) has entered into a purchase agreement with Tele Columbus GmbH („Tele Columbus“) to acquire the Tele Columbus Group. The purchase price amounts to EUR603 million plus accrued interest. As of 31 December 2011, this would have been equivalent to EUR 618 m. The purchase price will provide for repayment in full of the financial debt of Tele Columbus.
Tele Columbus, headquartered in Berlin, provides basic cable services to approximately 1.7 million customers in 2.1 million homes connected and is Germany’s largest network level 4 cable operator. In the fiscal year 2011, Tele Columbus reported revenues of EUR 218 m and an operating result (EBITDA) of EUR 81 m.
Hengeler Mueller advised Kabel Deutschland on this transaction. The Hengeler Mueller team included partners Achim Herfs (M&A, Munich), Wolfgang Spoerr (Telecommunications, Berlin), Nikolaus Vieten (Financing, Frankfurt), Christian Hoefs (Labour, Frankfurt) as well as associates Simon Patrick Link, Alexander Henne, Elena Samaras (all Munich), Fabian Seip und Marc Zedler (both Berlin), Peter Wehner (Frankfurt).