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Providence Sells €760M Kabel Stake

Providence Equity has raised €760 million from the sale of its stake in German cable operator, Kabel Deutschland.

Providence Equity has raised €760 million from the sale of its stake in German cable operator, Kabel Deutschland, AltAssets reports. Cable Holding backed by Providence Equity placed 20 million shares through GoldmanSachs.

Luxembourg-based Cable Holding, which previously owned 43.7% of the company, will now be left with a 22% stake. Providence Equity has also agreed to keep its stake in Kabel Deutschland for another three months period, adds Reuters.

Click here for the story from Altassets.

Click here for additional coverage from Reuters.

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