| Target: | NORTH RHINE-WESTPHALIA CABLE NETWORK | SIC Codes: | 4841 0 0 0 0 |
| Country: | Germany | Industrial Sectors: | Cable TV |
| Activities: | CABLE TV NETWORK | ||
| Bidder: | CALLAHAN ASSOCIATES INTERNATIONAL LLC | ||
| Country: | USA | SIC Codes: | 6799 0 0 0 0 |
| Activities: | FINANCIAL INVESTMENT COMPANY | ||
| Divestor: | DEUTSCHE TELEKOM AG | ||
| Country: | Germany | SIC Codes: | 4813 4812 4814 4841 0 |
| Activities: | FIXED-LINE & MOBILE TELECOMS SERVICE & INTERNET ACCESS & CABLE TV | ||
| Divesting Subsidiary: | KABEL DEUTSCHLAND GMBH | ||
| Country: | Germany | SIC Codes: | 6720 0 0 0 0 |
| Activities: | CABLE TV HOLDING COMPANY | ||
| Date Announced: | 2000/02/22 | Date Completed: | 2000/07/13 |
| Deal Status: | Completed | Deal Type: | Private MBI |
| Deal Attitude: | Friendly | Cross Border: | Yes |
| % Capital Owned: | 0 | % Capital Bid For: | 100 |
| Competitive Status: | Single bidder | ||
| Regulatory Referral: | No referral | ||
| Consideration Type: | Cash plus Ordinary Shares plus deferred consideration (fixed) | ||
| Deal Value (m) | Rate to STG 1.518 | Target Financials (m) | Rate to STG 1.518 | ||
| 1) EUR | 2) STG | 1) EUR | 2) STG | ||
| Cash Consideration | 2526 | 1664.251 | Sales | 345.807 | 227.834 |
| Share Consideration | 795 | 523.784 | Depreciation/Amortisation | 98.091 | 64.627 |
| Maximum Earnout | 0 | 0.000 | Operating Profit | 89.065 | 58.680 |
| Deferred Consideration | 250 | 164.712 | NPBT | 93.157 | 61.376 |
| Cost of Equity Acquired | 3571 | 2352.747 | NPAT | 75.926 | 50.024 |
| Implied Total Equity Value | 3571 | 2352.747 | Net Income | 75.926 | 50.024 |
| Net Debt | 0.001 | 0.001 | Shareholders Funds | 611.373 | 402.802 |
| Minorities | 0 | 0.000 | |||
| Firm Value | 3571.001 | 2352.748 | |||
| Price Ratios | Firm Value Ratios | ||||
| Price/Sales | 10.33 | Firm Value/Sales | 10.33 | ||
| Price/NPAT | 47.03 | Firm Value/EBITDA | 19.08 | ||
| Price/Book | 5.84 | Firm Value/EBIT | 40.09 | ||
| Accounts Source: | CALLAHAN NORDRHEIN-WESTFALEN MEMO (29/6/00) P.F-3 | Reliability: | Audited |
| Deal Value Source: | CALLAHAN NORDRHEIN-WESTFALEN MEMO (29/6/00) P.5 | Reliability: | Estimate |