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TDC Divests Dan Net
The sales price is EUR 160m (DKK 1.2bn) and in connection with the transaction
TDC receives a dividend of EUR 21m (DKK 159m) from Dan Net
COPENHAGEN, Denmark, July 22 /PRNewswire-FirstCall/ -- TDC has signed an
agreement to divest Dan Net A/S, a provider of inter-operator billing services
for mobile and fixed telecommunications providers, electronic data interchange
(EDI) and E-business solutions, to MACH S.a.r.l, which is owned by Advent
International and Providence Equity Partners. After the close of the
transaction, Dan Net will be combined with MACH thereby creating a leading
global provider of inter-operator billing services.
The sales price is EUR 160m (DKK 1.2bn) and in connection with the transaction
TDC receives a dividend of EUR 21m (DKK 159m) from Dan Net. TDC's gain after
tax from the sale of the shares is estimated to be DKK 1.0bn, The transaction
is subject to competition authorities' approval in several countries.
Dan Net was established in 1987 as a joint venture between IBM Danmark and
KTAS, which later was merged into TDC. In 1999 TDC took 100% control of Dan
Net, when a 50% stake was bought from IBM for DKK 148m. Since 1999 revenues
have grown from DKK 176m to DKK 381m in 2003 and EBITDA have grown from DKK 28m
to DKK 150m.
Dan Net is 100% owned by TDC Solutions.
"We have focused TDC's business towards customer oriented communications
solutions such as broadband, mobile and traditional telephony and as such the
divesture of Dan Net should be seen as an exit of an activity on the edge of
TDC's core. In the 5 years we have had full control of Dan Net we have
developed the company further and the significant value creation of that effort
is now materializing as we sell a well-managed and profitable business to
MACH," says Henning Dyremose, President and CEO of TDC.
For further information please contact TDC Investor Relations at +45 3343 7680.
TDC A/S
Noerregade 21
0900 Copenhagen C
DK-Denmark
http://www.tdc.com/
DATASOURCE: TDC A/S
CONTACT: TDC Investor Relations, +45-3343-7680
Web site: http://www.tdc.com/