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Barclays fails to find Ziggo buyers
March 26, 2013 11.13 Europe/London By Robert Briel
Barclays registered its 14.22% holding with Dutch market regulator AFM in line with major shareholding disclosure rules.
Barclays picked up the stake, worth around €713 million, after failing to fully distribute a block of shares it underwrote on behalf of the cabler’s owners Cinven and Warburg Pincus.
The UK bank won an auction for a 40m share sale of Ziggo, representing 20% of the company, from the two private equity firms.
The deal was priced at €25.05 to raise €1bn, but the lack of a covered message meant the bank was assumed to be left with some of the stock.
Earlier this month, Cinven, Warburg Pincus and their co-investors announced their intention to sell around 40 million ordinary shares in Ziggo via accelerated bookbuild.
March 26, 2013 11.13 Europe/London By Robert Briel
Barclays registered its 14.22% holding with Dutch market regulator AFM in line with major shareholding disclosure rules.
Barclays picked up the stake, worth around €713 million, after failing to fully distribute a block of shares it underwrote on behalf of the cabler’s owners Cinven and Warburg Pincus.
The UK bank won an auction for a 40m share sale of Ziggo, representing 20% of the company, from the two private equity firms.
The deal was priced at €25.05 to raise €1bn, but the lack of a covered message meant the bank was assumed to be left with some of the stock.
Earlier this month, Cinven, Warburg Pincus and their co-investors announced their intention to sell around 40 million ordinary shares in Ziggo via accelerated bookbuild.