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* Sell 34 mln Ziggo shares
* Cinven, Warburg stakes drop to zero
* Ziggo shares down 4 pct
* Liberty Global built 12.65 pct stake last month
BRUSSELS, April 26 (Reuters) - Private equity firms Cinven and Warburg Pincus and co-investors completed their exit from Dutch cable firm Ziggo on Friday in a placement of their remaining holdings for about 875 million euros ($1.14 billion).
The two firms and co-investors have sold about 34 million shares via an accelerated bookbuild offering at 25.75 euros per share, Ziggo said in a statement on Friday.
Ziggo shares fell 4.1 percent to 26.7 euros on Friday, although they were still around 40 percent above their flotation price on the Amsterdam stock exchange in March 2012.
The buyout firms have been steadily reducing their holdings since that initial public offering.
Last month, they raised 1 billion euros from the sale of a 20 percent stake, cutting their combined holding to 17 percent. .
Cinven and Warburg Pincus said on Friday that they had each generated proceeds of 1.7 billion euros from Ziggo. Cinven said its return was 2.8 times its investment.
A source familiar with the matter told Reuters that Warburg Pincus' rate of return was "over 4 times".
Ziggo did not say who bought the shares.
Ziggo, which has 2.9 million television customers and 1.8 broadband subscribers, was built up by Warburg Pincus after its initial investment in regional Dutch cable operator Multikabel in 2005.
With Cinven, it added cable companies Casema and Essent Kabelcom and merged them together into Ziggo in 2008.
Last month, Liberty Global, which owns Dutch rival UPC, said it had bought a 12.65 percent stake in Ziggo for 632.5 million euros, prompting speculation it might make a full bid.
Liberty already plans to buy Britain's second biggest pay-TV company Virgin Media and is reportedly preparing a bid for Kabel Deutschland in Germany where it owns Unitymedia Kabel BW, the country's No. 2 cable company.