Home / Business and Economy / Apax Nears Deal for Odido, Warburg Pincus Exit
Apax Nears Deal for Odido, Warburg Pincus Exit
26 Sep
Summary
- Apax is close to acquiring Warburg Pincus's stake in Odido.
- The deal values the Dutch telecoms group at approximately €6.5bn.
- This potential sale follows the abandonment of Odido's planned IPO.
Apax is reportedly nearing a deal to acquire Warburg Pincus's stake in the Dutch telecoms group Odido. The transaction is expected to value Odido at around €6.5bn. An agreement could be reached in the coming days, although talks are ongoing and no final decision has been made.
This potential sale follows the abandonment of Odido's planned initial public offering earlier this year, which was anticipated to be one of Europe's largest floats. Market instability was cited as the reason for withdrawing the listing.
Odido, which serves over 7.5 million customers and is a leading provider of fibre-optic broadband in the Netherlands, was previously acquired by Warburg Pincus and Apax from Deutsche Telekom and Tele2 in 2022 for €5.1bn.
The company has also faced challenges, including a significant cyber attack that resulted in the leak of customer data, prompting an apology from its chief executive. Despite these setbacks, prospective buyers, including Saudi Arabia's STC, have reportedly approached the private equity owners.
