Com Hem purchase by BC Partners wins EC approval

The European Commission (EC) yesterday granted clearance to the purchase of Sweden’s largest cableco, triple-play operator Com Hem, by UK-based private equity fund BC Partners. The transaction involved the purchase of shares in Com Hem’s holding company, Nordic Cable Acquisition Company Sub-Holding AB, by BC Partners via CIE Management IX Limited of Guernsey in the UK Channel Islands, according to the Europolitics Information society website. As previously reported by CommsUpdate, in July 2011 BC Partners agreed to purchase 100% of Sweden’s largest cable network operator for approximately USD2.6 billion from US-based equity houses Carlyle Group and Providence Equity. BC beat off competition from another fund, Cinven.