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TMCNet: Rabo Bouwfonds Communication Infrastructure Fund not to sell stake in CAIW Holding (Caiway) to Royal KPN

[April 11, 2012]

Rabo Bouwfonds Communication Infrastructure Fund not to sell stake in CAIW Holding (Caiway) to Royal KPN

Apr 11, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Rabo Bouwfonds Communication Infrastructure Fund (RBCIF) has decided not to sell its stake CAIW Holding B.V. (Caiway) to Koninklijke KPN N.V. (Royal KPN NV), a provider of telecommunications services, as the Dutch competition authority, Nederlandse Mededingingsautoriteit (NMa), has too many objections against the transaction. All the entities involved in the transaction are based in the Netherlands.


Caiway provides television, broadband and telephony services. RBCIF is a Dutch investment fund that invests in Dutch communication infrastructure, such as transmission masts and cable infrastructures.

Announcement (May 2, 2011): RBCIF has entered into an agreement to sell its stake Caiway to Royal KPN.

According to the agreement, Royal KPN will acquire the service provider activities and network lease contracts and will not acquire the passive infrastructure assets of Caiway.

Allen & Overy LLP is acting as legal advisor to Royal KPN. ING Corporate Finance is acting as financial advisor to RBCIF.

Deal Type Private Equity Sub-Category Exit Deal Status Terminated: 2012-04-10 Deal Participants Target (Company) CAIW Holding B.V.

Acquirer (Company) Koninklijke KPN N.V.

Deal Rationale The acquisition will fit within Royal KPN's strategy to strengthen its position in the Dutch television and broadband market. KPN will provide open access to other operators and service providers which fit KPN's philosophy of open access cable, fiber and other telecom networks.

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