DGAP-News: United Internet decides to acquire 25.1% stake in Versatel's parent company
(firmenpresse) - DGAP-News: United Internet AG / Key word(s): Miscellaneous
United Internet decides to acquire 25.1% stake in Versatel's parent
company
14.11.2012 / 12:48
---------------------------------------------------------------------
United Internet decides to acquire 25.1% stake in Versatel's parent company
- Investment in operator of Germany's second-largest fiber-optic network
- Continuation of good partnership with KKR
Montabaur, November 14, 2012. The Management Board and Supervisory Board of
United Internet AG today decided to exercise its option to purchase 25.1%
of shares in the parent company of Versatel AG, VictorianFibre Holding&Co. S.C.A., a company belonging to funds managed by Kohlberg Kravis Roberts&Co. L.P. (together with its associated companies 'KKR').
This option was granted to United Internet when selling its Versatel shares
to KKR in May 2011. At the time, United Internet's sale paved the way for a
delisting of the company. Following its successful delisting and the
completion of restructuring measures, the key earnings figures and free
cash flow of Versatel have improved. KKR and United Internet have been
closely accompanying this development over the past months.
The shares are to be purchased in December 2012 by exercising the option
and converting the vendor loan (amounting to EUR 59.8 million) granted at
the time to KKR as part of the sale into shares in Versatel's parent
company.
'By exercising the option, we will be securing a significant investment in
one of the leading infrastructure suppliers with Germany's second-largest
fiber-optic network,' states Ralph Dommermuth in his summary of the reasons
behind the planned share purchase. 'We are looking forward to continuing
the good cooperation with KKR and Versatel's management during the ongoing
development of the company.'
About United Internet
With over 11.5 million fee-based customer contracts and more than 30
million ad-financed free accounts, United Internet AG is Europe's leading
internet specialist. At the heart of United Internet is a high-performance
'Internet Factory' with over 6,000 employees, of which more than 1,600 are
engaged in product management, development and data centers. In addition to
the high sales strength of its established brands (1&1, GMX, WEB.DE,
united-domains, Fasthosts, InterNetX, Sedo and affilinet), United Internet
stands for outstanding operational excellence with around 42 million
customer accounts worldwide. United Internet also holds equity interests in
listed companies and owns numerous investments in young internet companies.
Contact
Marcus Schaps
Head of Press and Public Relations
United Internet AG
Elgendorfer Strasse 57
56410 Montabaur
Germany
Tel: +49 2602/96-1076
Fax: +49 2602/96-1013
E-mail: mschaps(at)united-internet.de
Internet: www.united-internet.de
End of Corporate News
---------------------------------------------------------------------
14.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: EnglishCompany: United Internet AG
Elgendorfer Straße 57
56410 Montabaur
Germany
Phone: +49 (0)2602 / 96 - 1100
Fax: +49 (0)2602 / 96 - 1013
E-mail: info(at)united-internet.de
Internet: www.united-internet.de
ISIN: DE0005089031
WKN: 508903
Indices: TecDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
193185 14.11.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="SilverCrest Reports Q3, 2012 Financial Results; Cash Flow From Operations Increases 103% Over Q3, 2011Datum: 14.11.2012 - 12:48 Uhr
Sprache: Deutsch
News-ID 203267
Anzahl Zeichen: 6760
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 160 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: United Internet decides to acquire 25.1% stake in Versatel's parent company"
steht unter der journalistisch-redaktionellen Verantwortung von
United Internet AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
