Apax Nearing Deal to Buy Warburg’s Stake in Odido – €6.5B Valuation
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Apax Close to Acquiring Warburg’s Odido Stake at €6.5 Billion Valuation
Key Details of the Apax and Warburg Odido Deal
Sept 26 (Reuters) – Private equity group Apax is nearing a deal to buy Warburg Pincus out of their joint investment in Dutch telecoms group Odido, The Financial Times reported on Saturday.
Deal Valuation and Financials
Here are some details:
Odido Valuation
• The deal would value Odido at about €6.5 billion ($7.4 billion), the FT reported, citing people familiar with the matter
Previous IPO Plans and Market Volatility
• In February, Odido, owned by Apax and Warburg Pincus, postponed plans for an initial public offering in Amsterdam after muted response from investors and concern over the extent of volatility in global equity markets
Cybersecurity Incident
• In the same week, the Dutch telecoms group suffered a cyberattack that exposed personal information from more than six million accounts
Ownership and Acquisition History
Interest from Other Suitors
• The owners have since received approaches for the business from suitors including Saudi Arabia state-backed telecoms group STC, the FT reported
Responses from Stakeholders
• Apax, Warburg, Odido and STC did not respond to Reuters’ requests for comment outside regular business hours
Previous Acquisition
• Apax and Warburg acquired the business under its previous name T-Mobile Netherlands in 2021 at an enterprise value of €5.1 billion
Currency Exchange Rate
($1 = 0.8779 euros)
Reporting Credits
(Reporting by Devika Nair in Bengaluru; Editing by Christopher Cushing)
