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BBGP participates in the take-private of Ireland's dominant telecommunications services provider
18.08.06
BBGP participates in the take-private of Ireland's dominant telecommunications services provider
On 23 May 2006, Babcock & Brown Global Partners ("BBGP"), Babcock & Brown Capital Limited (“BCM” - ASX: BCM) and their investment partners announced a successful recommended Cash Offer for eircom, Ireland's dominant provider of telecommunications services, through BCM Ireland Holdings Limited ("BCMIH"). The Offer valued the entire issued ordinary share capital of eircom at approximately €2.4 billion. This offer, made in conjunction with the eircom Employee Share Ownership Trust (“ESOT”), was overwhelmingly approved by eircom shareholders on 26 July 2006. BCMIH took full ownership of eircom on 18 August 2006.
For further information please contact:
Marwan El-Asmar
Babcock & Brown Global Partners
Tel: +44 20 7203 7300
About Babcock & Brown Global Partners
Babcock & Brown Global Partners ("BBGP") is a €370 million co-investment fund with Babcock & Brown. BBGP has been established to invest exclusively in transactions originated and structured by Babcock & Brown on a global basis. BBGP has the right to participate in equity opportunities that Babcock & Brown are seeking to syndicate to third party investors.
About Babcock & Brown Capital
Babcock & Brown Capital (“BCM”) is an Australian-based investment company that focuses on a concentrated portfolio of assets with a flexible investment horizon. BCM’s mandate allows it to build positions in domestic and overseas companies and both listed and private entities. BCM concentrates on growing the value of its investments over time. Investments are held while they continue to meet BCM’s investment objectives. BCM listed on the Australian Stock Exchange in February 2005.
About Eircom
eircom was privatised in 1999, and was then the subject of a private equity buy out in 2001. It was re-listed in 2004 on both the London and Irish stock exchanges. eircom owns Ireland's copper and fibre backbone telecommunications network. It is the dominant provider of fixed line wholesale and retail telecommunication services. eircom has recently acquired Meteor, a mobile telecommunications business, which has a rapidly growing 13% share of the mobile market. It also has 77% market share in the fast growing DSL market.
BBGP participates in the take-private of Ireland's dominant telecommunications services provider
On 23 May 2006, Babcock & Brown Global Partners ("BBGP"), Babcock & Brown Capital Limited (“BCM” - ASX: BCM) and their investment partners announced a successful recommended Cash Offer for eircom, Ireland's dominant provider of telecommunications services, through BCM Ireland Holdings Limited ("BCMIH"). The Offer valued the entire issued ordinary share capital of eircom at approximately €2.4 billion. This offer, made in conjunction with the eircom Employee Share Ownership Trust (“ESOT”), was overwhelmingly approved by eircom shareholders on 26 July 2006. BCMIH took full ownership of eircom on 18 August 2006.
For further information please contact:
Marwan El-Asmar
Babcock & Brown Global Partners
Tel: +44 20 7203 7300
About Babcock & Brown Global Partners
Babcock & Brown Global Partners ("BBGP") is a €370 million co-investment fund with Babcock & Brown. BBGP has been established to invest exclusively in transactions originated and structured by Babcock & Brown on a global basis. BBGP has the right to participate in equity opportunities that Babcock & Brown are seeking to syndicate to third party investors.
About Babcock & Brown Capital
Babcock & Brown Capital (“BCM”) is an Australian-based investment company that focuses on a concentrated portfolio of assets with a flexible investment horizon. BCM’s mandate allows it to build positions in domestic and overseas companies and both listed and private entities. BCM concentrates on growing the value of its investments over time. Investments are held while they continue to meet BCM’s investment objectives. BCM listed on the Australian Stock Exchange in February 2005.
About Eircom
eircom was privatised in 1999, and was then the subject of a private equity buy out in 2001. It was re-listed in 2004 on both the London and Irish stock exchanges. eircom owns Ireland's copper and fibre backbone telecommunications network. It is the dominant provider of fixed line wholesale and retail telecommunication services. eircom has recently acquired Meteor, a mobile telecommunications business, which has a rapidly growing 13% share of the mobile market. It also has 77% market share in the fast growing DSL market.