TDC Investor KKR NTC to Sell $770 Million Stake in Phone Company

TDC A/S (TDC) private-equity shareholder KKR NTC said it is selling a stake valued at 4.3 billion kroner ($770 million) in Denmark’s biggest phone company.

NTC is offering 90 million shares in TDC, or a stake of about 11 percent, at between 46.20 kroner and the current market price, according to terms of the sale obtained by Bloomberg News. JPMorgan Chase & Co. (JPM) is managing the transaction, which opened after market hours and can close anytime.

TDC’s private-equity owners have been paring holdings since December 2010. Apax Partners LLP, Blackstone Group LP (BX), KKR & Co. (KKR), Permira Advisers LLP and Providence Equity Partners Inc. created NTC, which acquired TDC in 2005 for $15.3 billion.

NTC currently has a stake of about 11 percent, according to the Bloomberg data. The shares have gained about 20 percent this year and closed today at 47.88 kroner, up 0.19 percent.

Companies in Europe, the Middle East and Africa have sold about $65 billion in additional share sales this year, compared with $33 billion in the same period in 2012, the data show.

To contact the reporter on this story: Ruth David in London at rdavid9@bloomberg.net

To contact the editor responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net

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