Private equity firms Warburg Pincus and Cinven Ltd. are selling their remaining 17 percent stake in Dutch cable company Ziggo, in a deal worth $1.1 billion.
Combined, the two are selling 27 million shares, with potential upsizing of the deal by about 7.2 million shares.
Ziggo, headquartered in Utrecht, provides cable, Internet and telephone services to residential and commercial customers.
The firms have been winding down their ownership in the company. In March they sold a 20 percent stake in the company in a deal valued at about $1.3 billion, after selling off an 18.5 percent stake in October 2012.
The transaction follows several other European cable deals.
In March, international cable company Liberty Global Inc. (Nasdaq: LBTYA, LBTYB, LBTYK) bought a 12.65 percent stake in Ziggo for about $810 million. Liberty agreed to buy Virgin Media Inc. (Nasdaq: VMED) for about $23 billion in February, and offered $2.56 billion for Telenet Group Holding NV in September.
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