CONTACT: Bill Fowler
June 9, 2006
ALTICE ONE AND CINVEN TO ACQUIRE UPC FRANCE FROM LIBERTY GLOBAL
Altice and Cinven, Ltd. have entered into a Definitive Agreement for the acquisition of the French cable business of Liberty Global, Inc., it was announced today. Altice and Cinven will acquire 100% of UPC France SA for €1.25 billion (US$1.6 billion). The sale includes nearly 2 million voice, video and data customers. Closing of the transaction is subject to receipt of regulatory approval and is expected to occur during the second half of 2006.
Mark Mullen, Managing Director of Daniels & Associates, initiated the transaction and advised Altice and Cinven in the deal. This deal represents Daniels fifth French cable transaction since 2000 totaling more than $2.5 billion in value.
About Altice
Founded in 2001 by European cable pioneer, Patrick Drahi, Altice has quickly grown to own and manage broadband communications companies with more than 4.5 million voice, video and data customers in France, Belgium and Luxembourg.
About Cinven
Founded in 1977, Cinven is one of the most prominent and successful investors in the European buyout market. Specializing in Europe with offices in London, Frankfurt and Paris, Cinven has invested in buyouts with a value in excess of €55 billion. With its current fund of €6 billion, Cinven is one of the largest buyout funds dedicated to Europe.
About Liberty Global
Liberty Global is a leading international cable operator offering advanced video, voice and Internet access to approximately 15 million customers in 18 countries principally located in Europe, Japan, Chile and Australia.
About Daniels & Associates
Daniels & Associates, L.P. is a leader in financial services to the cable, telecommunications, media and technology industries. The company assists clients with mergers & acquisitions, private equity & debt financings and financial advisory engagements. Daniels is regularly ranked as the most active mergers & acquisitions advisor to U.S. companies in these sectors and has completed more than $100 billion in total transactions. Daniels is a member of the NASD and SIPC.
###