Providence, Cinven and KKR agree €5bn Masmovil takeover
A consortium of private equity funds - comprising Providence Equity Partners, Cinven and KKR – have agreed a €5 billion deal to acquire Spanish telecoms company Masmovil.
The deal will be completed subject to approval by the Spanish securities market regulator CNMV.
A statement said the consortium was committed to continuing with Masmovil’s strategic business plan as well as its employees and management team.
Masmovil’s board of directors is being advised by Clifford Chance on the takeover, while Goldman Sachs International is acting as M&A advisor and BNP Paribas is acting as financial and rating advisor.
Masmovil’s brands include Yoigo, Pepephone, Llamaya and Lebara.
Masmovil’s Group’s fixed network reaches 18 million households with ADSL and close to 23.4 million households with optical fibre. Its 4G mobile network covers 98.5 per cent of the Spanish population.
Masmovil’s 2019 revenues stood at almost €1.5 billion. Masmovil is led by CEO Meinrad Spenger (pictured).
A Madrid-based Freshfields Bruckhaus Deringer team advised Cinven, KKR and Providence. The Freshfields team included Armando Albarrán, Alfonso de Marcos, Miriam Pérez-Schafer, David Franco, Ignacio Borrego, Álvaro Iza, Enrique Carrera, Iñaki Gabilondo and Cristina Esteve.
The European Commission’s approval of the copyright directive in April threw more gas on the fire. In a few years, the internet has become – among other things – the main market fo
The long-serving boss of Cobepa, Jean-Marie Laurent Josi talks about the business model of a Belgian investment firm that is trusted by major European families, one which marries t
Since the last half of 2008, it is no longer possible to conceal the term ‘crisis’. New paradigms have become apparent and structural changes are predicted. Indeed mar