International Cable and Trilantic acquire Basque Euskatel
International Cable Holdings SA, company owned by Investindustrial IV LP has announced the acquisition with Trilantic Capital Partners of Spain’s Euskaltel.
Euskaltel provides fixed-line, broadband and pay TV services to consumers and is currently owned by KutxaBank, Iberdrola, Endesa, Mondragon and a number of Basque government-related entities.
The closing of the transaction is subject to conditions precedent and is expected by mid-December 2012. The purchase price is not disclosed but the equity investment exceeds €200m.
Investindustrial is an Italian investment group with €3.1bn of assets under management, which provides industrial solutions and capital predominantly to mid-market companies.
Trilantic is an Italian private equity fund headed by Vittorio Pignatti.