TDC and CVC Capital Partners sign agreement on Sunrise
On September 17, 2010 TDC A/S, listed on NASDAQ OMX in Copenhagen, and private equity firm CVC Capital Partners entered into an agreement for investment funds advised by CVC to acquire Sunrise Communications AG at an enterprise value of CHF 3.3 billion. Closing of the transaction is expected to occur in the fourth quarter of 2010, once approvals have been obtained from the Swiss competition and relevant regulatory authorities.
Lenz & Staehelin advises TDC in this transaction. The team includes Rudolf Tschäni, Hans-Jakob Diem, Tino Gaberthüel, Urs Reinwald and Sandra Zweifel (Corporate) and Marcel Meinhardt and Judith Bischof (Competition, Regulatory). Simpson Thacher acted as international counsel to TDC A/S.