Zegona Agrees To Acquire Telecable De Asturias S.A. For EUR640 Mln

(RTTNews) - Zegona, a company established to acquire and operate businesses in the European Telecommunications, Media and Technology sector, said it has reached agreement with global alternative asset manager, The Carlyle Group (CG) and Liberbank, to acquire Telecable de Asturias S.A., a leading quad play telecommunications operator in Asturias, North West Spain, for an enterprise value of 640 million pounds.

Zegona will fund the acquisition with a combination of 251 million pounds of new equity, backed by global institutional investors, funds from Zegona's recent IPO and a new debt facility arranged by Goldman Sachs. The transaction is expected to close by mid- August 2015.

Zegona CEO Eamonn O'Hare said, "There is a significant opportunity to continue the impressive development of the Telecable business. By combining the local knowledge of the team in Spain with the international experience and track record of Zegona, we have the right leadership to drive Telecable forward and deliver its full potential."

Goldman Sachs International acted as exclusive financial advisor to Telecable, The Carlyle Group & Liberbank.