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Liberty Global buys 12.65% stake in Ziggo
2013-03-28 09:05:00| Telecompaper Headlines
(Telecompaper) Liberty Global has acquired a 12.65 percent stake in Ziggo, the Netherlands' largest cable operator. Liberty, which already owns the second-largest cable operator UPC Netherlands, bought 25.3 million shares in Ziggo from Barclays for EUR 25 each. Barclays was left with the shares after Ziggo's shareholders Warburg Pincus and Cinven recently sold down their stake in the company in a secondary offering. Liberty said it considered the acquisition a strategic investment as well as a financial gain, given Ziggo's expected 7.4 percent dividend yield this year. Liberty Global is funding the acquisition of Ziggo shares with a non-recourse margin loan and existing liquidity. As it does not result in Liberty Global obtaining a controlling interest in Ziggo, no regulatory approvals are required. Ziggo's board issued a statement noting the acquisition and said it will "continue to focus on executing Ziggo's strategy in the best interests of its stakeholders".
Tags: global
liberty
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Hitachi Power Systems America Renewals Lease at Liberty Corner Executive Center
2013-03-21 03:31:00| National Real Estate Investor
Hitachi Power Systems America Ltd. (HPSA), a wholly owned subsidiary of Hitachi America Ltd., has signed a lease renewal for its 50,000 sq. ft. of office space at Liberty Corner Executive Center in Bernards Township, N.J.read more
Tags: center
power
systems
america
Hitachi Power Systems America Renews Lease at Liberty Corner Executive Center
2013-03-21 03:31:00| National Real Estate Investor
Hitachi Power Systems America Ltd. (HPSA), a wholly owned subsidiary of Hitachi America Ltd., has signed a lease renewal for its 50,000 sq. ft. of office space at Liberty Corner Executive Center in Bernards Township, N.J.read more
Tags: center
power
systems
america
Liberty Media buys 27.3% in Charter for USD 2.62 bln
2013-03-20 09:01:00| Telecompaper Headlines
(Telecompaper) Liberty Media has agreed to buy a 27.3 percent stake in cable company Charter Communications for USD 2.617 billion. The company controlled by John Malone will pay USD 95.50 per share to acquire 26.9 million shares and 1.1 million warrants from Charter's shareholders Apollo Management, Oaktree Capital Management and Crestview Partners. Liberty expects to fund the purchase with a combination of cash on hand and new loan arrangements. The deal should close early in Q2. Liberty Media will have the right to four seats on the Charter board after the acquisition. Chairman Malone, Liberty Media CEO Gregory Maffei, Liberty Global CTO Nair Balan, and Michael Huseby, CFO of Barnes & Noble, are expected to take up the seats, replacing Stan Parker, Darren Glatt, Bruce Karsh and Edgar Lee. Liberty Media also agreed to not increase its stake in Charter above 35 percent until January 2016 and 39.99 percent thereafter.
Tags: media
usd
charter
liberty
Liberty Media to buy 25% in Charter - report
2013-03-19 09:22:00| Telecompaper Headlines
(Telecompaper) Liberty Media is close to a deal to acquire 25 percent of Charter Communications from its private-equity investors, a person familiar with the situation told Bloomberg. The firms include Apollo Global Management and Oaktree Capital Management, Charter's largest shareholders. The stake was worth USD 2.48 billion at the share's closing price on 18 March. Charter, the fourth-largest cable operator in the US, declined to comment. Liberty Media already holds an undisclosed stake in Time Warner Cable, the second-biggest US cable company. Charter said earlier this month that Apollo would reduce its stake by 6.2 million shares and Oaktree would sell 3.1 million in an underwritten offering.
Tags: report
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charter
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