Cinven generates 160 pct internal rate of return on Numericable
LONDON, April 7
LONDON, April 7 (Reuters) - Private equity firm Cinven has generated an internal rate return (IRR) of 160 percent and capital gains of over 1.5 billion euros ($2 billion) on Numericable thanks to its IPO and subsequent sale to Altice, the company said on Monday.
Cinven said that 1.25 billion euros of the capital gains would be in cash and that it would roll its entire remaining holding in Numericable into Altice. The firm built up the French cable company after investing 528 million euros in 2005. ($1 = 0.7303 Euros) (Reporting by Freya Berry; editing by Clare Hutchison)