SVG Capital PLC
28 April 2008
For immediate release 28 April 2008
Realisation of debitel
SVG Capital has today been informed that funds advised by Permira have signed an
agreement to sell their holding in debitel, the leading German mobile service
provider, to Freenet AG, an entity listed on the German stock exchange.
In addition to cash proceeds and a vendor loan note, the Permira funds will
retain an indirect stake of 20.7% in Freenet AG. The value of this transaction
for SVG Capital is £54.0 million (including £27.8 million for the shares in
Freenet AG based on its closing share price of 25 April 2008) which represents
an approximate gross uplift of £23.4 million (15.8p per share) to the 31
December 2007 valuation of debitel.
Funds advised by Permira originally acquired debitel in June 2004.
This transaction is subject to approval from the cartel authorities, with their
decision expected in June 2008.
For further information, please contact:
SVG Capital plc
020 7010 8925
Alex Clelland/Francesca Reville 020 7786 4888
This information is provided by RNS
The company news service from the London Stock Exchange