Netherlands Competition Authority approves sale of Essent Kabelcom

Arnhem, the Netherlands - 8 december 2006. On 8 December, the Netherlands Competition Authority (NMa) gave its approval to the sale of Essent’s cable activities to Warburg Pincus and Cinven. The agreement for the sale of Essent Kabelcom, announced on 3 August 2006, amounts to EUR 2.6 billion, which should produce a gain of approximately EUR 1.8 billion. 

Netherlands Competition Authority approves sale of Essent Kabelcom

The sale fits Essent’s strategy of concentrating on energy and will provide Essent Kabelcom with the size needed to grow in the telecomm and cable industry, with its reducing number of players. The conditions that Essent attached to the social aspects, including employment and related terms and conditions, have also been met.

The official closing of the deal is expected to take place at short notice.

Published: 08 December 2006