Clifford Chance

Clifford Chance advises selling shareholders Cinven and Warburg Pincus on Ziggo's IPO

Amsterdam, 21 March 2012 - International law firm Clifford Chance advised selling shareholders Cinven and Warburg Pincus on the IPO of the Netherlands' largest cable operator Ziggo N.V. on NYSE Euronext in Amsterdam. Ziggo's ordinary shares offered in the IPO have been priced at €18.50 per ordinary share resulting in a market capitalization of €3.7 billion. The total offering size amounts to approximately €804 million.  This makes it the largest European IPO to be launched in almost a year and the largest in the Netherlands since 2009.

Conditional trading in Ziggo's ordinary shares commenced on NYSE Euronext in Amsterdam this morning March 21, 2012, at 09.00 hours (CET). The IPO consists of 43,478,260 ordinary shares, constituting 21.7% of the total issued ordinary share capital of Ziggo following the closing of the IPO (not including any ordinary shares covered by the over-allotment option). In addition, the over-allotment option covers up to an additional 15% of the offered shares which can be exercised to cover short positions resulting from any over-allotments made in connection with the IPO or stabilization transactions. If the over-allotment option is exercised in full, the IPO will represent 25% of the total issued share capital of Ziggo following the closing of the offering.

"We are truly excited to have been able to support our clients on this landmark deal" said Clifford Chance partner Hans Beerlage. "Our involvement is a true reflection of our financial sponsor client base, as well as our international and local capital markets expertise."

Hans Beerlage (Partner – Amsterdam) led the Corporate team on this transaction, which included Michael Otte (Senior Associate – Amsterdam), Jan-Hendrik Horsmeier (Associate – Amsterdam), Charlotte Lieth (Trainee Lawyer – Amsterdam), and Trevor Stegeman (Trainee Lawyer – Amsterdam), whereas Jeff Lieberman (Partner – New York) advised on US ERISA aspects of the transaction.