Stella Advisors act as financial advisors to Ratos in the acquisition of Stofa
Ratos has concluded an agreement to acquire
100% of the shares in the Danish triple-play-operator Stofa for a
purchase price (enterprise value) of DKK 1,090m. The seller is
TeliaSonera. Ratos will provide equity of approximately DKK
528m.
Stofa is a Danish triple-play-operator (broadband, cable
TV and telephony) which provides some 350,000 households with cable
TV and 40% of them with broadband. The services are delivered in
close cooperation with 300 antenna associations throughout Denmark.
In addition, Stofa also sells to final subscribers who are offered
interactive TV services (pay TV), broadband and IP
telephony.
Stofa was founded in 1959 and the company was acquired by Telia in
1995. Today, Stofa is Denmark's second-largest supplier of cable TV
and the fourth-largest broadband provider. Stofa has 470 employees
and 2009 sales totalled DKK 1,024m with an operating profit (EBITA)
of DKK 92m. The head office is in Horsens in Jutland,
Denmark.
"Stofa has a strong position in the Danish cable TV and broadband
market. Major investments have been made in technology and networks
in recent years in order to achieve high quality and the capacity
to enable a broader services offering. Stofa cooperates with a
large number of antenna associations and by offering even more
interesting content and better services for customers, sales and
profitability are expected to improve," says Ratos CEO Arne
Karlsson.
Ratos's holding will amount to 100%. The purchase price
(enterprise value) for the acquisition amounts to DKK 1,090m, of
which equity of approximately DKK 528m will be provided by Ratos.
The acquisition is scheduled for completion during the third
quarter of 2010.