Kabel BW Owner EQT Targets at Least $690 Million in IPO

Kabel Baden-Wuerttemberg GmbH’s private-equity owner EQT Partners AB plans to seek at least 500 million euros ($690 million) in an initial public offering of the German cable company.

EQT, Kabel BW’s largest holder, will receive all the net proceeds from the IPO, with the shares to be listed in April, according to the sales document obtained by Bloomberg News. The Stockholm-based buyout firm was considering selling part or all of its holding in Heidelberg, Germany-based Kabel BW to a strategic investor. EQT may retain a stake in the company after the IPO, the terms show.