Primacom !!! Durchbruch ist geschafft !!! - 500 Beiträge pro Seite

[campolimpo]

>> By Joon Knapen
>> Of DOW JONES NEWSWIRES
>>
>>
>>
>> FRANKFURT (Dow Jones)--Primacom AG (PCAGY) has reached an agreement
>> to sell its Dutch Multikabel unit to a private equity firm, but still
>> needs approval from some of its lenders before it can close the deal,
>> people familiar with the situation have told Dow Jones Newswires.
>>
>> The preliminary agreement on the Multikabel sale for a price at or
>> above the EUR530 million asking price was reached in early April, one
>> person said, and comes little over a month after Primacom failed to
>> sell the unit to Swedish buyout firm EQT.
>>
>> German cable television operator Primacom has made the sale of
>> Multikabel, based at Alkmaar in the Netherlands, a key element of its
>> financial restructuring. Primacom is unprofitable and needs cash to
>> cut estimated debt of EUR1 billion.
>>
>> The people declined to identify the name of the buyer, with one
>> person saying it is "a large private equity fund with good cable
>> know-how." Primacom started exclusive talks with this private equity
>> firm on Feb. 18, just days after talks with EQT collapsed, the people
>> said.
>>
>> Multikabel, which operates a network north of Amsterdam, generates
>> between EUR75 million and EUR80 million in annual sales. It has an
>> earnings before interest, taxes, depreciation and amortization, or
>> EBITDA, margin of around 60% of sales, the person said.
>>
>> People familiar with the disposal plan have said Primacom`s price tag
>> for the unit is at least EUR530 million.
>>
>> Primacom, which had 1.4 million subscribers in Germany and the
>> Netherlands at the end of 2003 and offers TV and high-speed Internet,
>> announced in late 2004 a controversial plan to sell Multikabel.
>>
>> The company is in a legal battle with a group of lenders, including
>> Apollo Management LP (AM.XX), JP Morgan Chase & Co. (JPM) and
>> Blackstone Group (BGP.XX). These so-called second-secured lenders are
>> owed around EUR500 million, but rank behind Primacom`s senior lenders
>> - a syndicate of 16 banks, including Bank of America Corp. (BAC) and
>> Dutch ING Groep NV (ING) - when it comes to being repaid.
>>
>> The senior lenders agreed to a sale of Multikabel. In January, the
>> second secured lenders won an injunction that prevents a sale without
>> their approval. The injunction was reaffirmed by a U.K. court at the
>> beginning of April.
>>
>> Primacom is still waiting on approval from the second-secured lenders
>> for the Multikabel sale, the people said. Earlier this week, the
>> senior and second secured lenders held "intensive talks" in the
>> Netherlands to come to an agreement about the financial restructuring
>> of Primacom, and another meeting has been scheduled to take place
>> soon, one person familiar with the matter said.
>>
>> Primacom executives weren`t present at the meeting. A spokesman for
>> Primacom said the company doesn`t comment "on ongoing negotiations."
>>
>> The second secured lenders have been at loggerheads with management
>> ever since their bid to take over the company was blocked by
>> shareholders in June 2004. The largest shareholder in Primacom is
>> John Malone`s Liberty Media International Inc. (LBTYA), which has a
>> 27% stake.
>>
>> Spokespeople for Apollo and JPMorgan declined to comment on the sale
>> of Multikabel.
>>
>> One person close to the second secured lenders said "no new proposal
>> has been submitted to them by Primacom" on the financial
>> restructuring.
>>
>> Primacom shares have posted strong gains since the dismissal of the
>> bid from Apollo and JP Morgan. They traded as low as EUR0.26 in
>> spring 2004 and have been highly volatile. At 1126 GMT, the stock was
>> traded up EUR0.04, or 1%, at EUR4.20.
>>
>> Company Web site: http://www.primacom.de
>>
>> -By Joon Knapen, Dow Jones Newswires; [phone];
>> [e-mail]
>>
>> (END) Dow Jones Newswires
>>
>> April 22, 2005 07:37 ET (11:37 GMT)
>>

[ZockerFreak]

danke für die info

[Miniaktionaer]

Primacom is unprofitable and needs cash to
> > cut estimated debt of EUR1 billion.

[xwin]

...also nix neues...

[ZockerFreak]

[posting]16.437.460 von Miniaktionaer am 22.04.05 17:26:05[/posting]Ist doch bekannt..deswegen auch der verkauf

[SILKE.N]

Das ist für mich die interessanteste Aussage ....

"Primacom is still waiting on approval from the second-secured lenders
> > for the Multikabel sale, the people said. Earlier this week, the
> > senior and second secured lenders held " intensive talks" in the
> > Netherlands to come to an agreement about the financial restructuring
> > of Primacom, and another meeting has been scheduled to take place
> > soon, one person familiar with the matter said."

Kurs zieht an!

[ZockerFreak]

@silke

Wenigstens mal etwas ... zwar nicht die zahlen aber trotzdem lecker

[SILKE.N]

[posting]16.437.520 von ZockerFreak am 22.04.05 17:32:40[/posting]Viel wichtiger als die Zahlen ....m.E.!

[Frenchmen]

[posting]16.437.406 von campolimpo am 22.04.05 17:18:45[/posting]Vielen Dank!! Merci beaucoup!! Salut

[Berta Roker]

quelle?


ich habe grade vwd/dpa durchsuchen lassen, da kam aber ncihts, seltsam

[ZockerFreak]

Kann noch jemand die meldung in #1 bestätigen

[SupermarioWin]

!

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[emsiwgsus]

ich glaube nicht, dass diese Nachricht ein Fake ist,
passt doch alles zusammen:

Die IR blockt und vertröstet

Frick sagt bei PRC passiert nichts in den nächsten Monaten

Gerüchte kursieren, genau in diese Richtung

[Dr.Jones]

Sieht nicht wie ein Fake aus

[Christopherus1]

das ist sicher kein fake.

wäre zuviel arbeit. und alles passt zusammen.
Joon Knapen hat auch im Februar über das damalige Scheitern des Deals berichtet.

JETZT berichtet er halt über das positive agreement.