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Providence Sells €760M Kabel Stake
Providence Equity has raised €760 million from the sale of its stake in German cable operator, Kabel Deutschland.
Providence Equityhas raised €760 million from the sale of its stake in German cable operator,Kabel Deutschland,AltAssetsreports.Cable Holdingbacked by Providence Equity placed 20 million shares throughGoldmanSachs.
Luxembourg-based Cable Holding, which previously owned 43.7% of the company, will now be left with a 22% stake. Providence Equity has also agreed to keep its stake in Kabel Deutschland for another three months period, addsReuters.
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