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Warburg Pincus Sells Polish Cable Operator INEA to Macquarie Fund.

M2 EQUITYBITES-December 7, 2017-Warburg Pincus Sells Polish Cable Operator INEA to Macquarie Fund


7 December 2017 - Funds affiliated with US-based private equity firm Warburg Pincus have entered into a definitive agreement to sell their majority stake in Polish fibre-to-the-home and cable operator INEA to Macquarie European Infrastructure Fund 5 (MEIF5), managed by infrastructure investor Macquarie Infrastructure and Real Assets, the firm said.

Terms of the transaction were not disclosed.

Founded in 1992 and headquartered in Poznan, Poland, INEA offers triple and quadruple-play telecommunications services to its residential and business customers, including cable TV, broadband, fixed and mobile telephony.

Warburg Pincus initially invested in INEA in 2013 when the firm acquired a strategic minority stake in the company and subsequently acquired a majority position in the company to support the ongoing growth of the business.

Under Warburg Pincus' ownership, INEA constructed a 4,500 km fibre optic backbone network (Wielkopolska Siec Szerokopasmowa) and increased its last mile network footprint from 360k Homes Passed to 500k HP, with further 200k HP expansion already contracted with support of EU funds.

Warburg Pincus is a global private equity firm focused on growth investing. The firm has more than USD 44bn in private equity assets under management.

The firm's active portfolio of more than 150 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value.

Macquarie Infrastructure and Real Assets is part of Macquarie Asset Management Group, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management, banking, advisory and risk and capital solutions across debt, equity and commodities.

Founded in 1969, Macquarie Group employs 13,966 people in 27 countries.

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Publication:M2 EquityBites (EQB)
Date:Dec 7, 2017
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