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Provider: Reuters Investment Profile
Provider: Directors Deals Ltd.

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Altamir Amboise Sca to Divest from Cable Operator Codilink via Apax France VIII Fund

Tuesday, 12 Mar 2013 03:40am EDT 

Altamir Amboise Sca announced that it has decided to divest from Codilink, a cable operator and portfolio company held by the Apax France VIII fund. Paris-based private equity firm Apax Partners MidMarket has entered into a definitive agreement to sell the two cable television (TV) operators held by Codilink. Accordingly, the agreement provides that Codilink will sell its 40% shareholding in Cabovisao to co-investor Altice VII. The transaction is subject to regulatory approval in Portugal. The agreement also provides that by the end of November 2013, Codilink will sell to Altice VII the 40% shareholding that it owns in Numericable Belgium/Luxembourg. Finally, Altamir Amboise Sca announced that the combined transaction should allow Altamir Amboise Sca to realize more than EUR 60.00 million as these proceeds are distributed over the course of the year. The sale represents an uplift of 22% to the valuation of Codilink at December 31, 2012, and is expected to add EUR 0.26 to Altamir Amboise Sca's NAV per share. 

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