The private equity firms sold 34.2 million shares, leading to a full exit for the pair.
Warburg Pincus confirmed it had realised gross cash proceeds of €329m from the sale, and has now earned over €1.7bn from its investment in Ziggo.
According to investors, the deal returned over four times and an IRR of 25 per cent.
Joseph Schull, head of Warburg Pincus in Europe, said, “Ziggo has delivered strong performance and an excellent return for shareholders since its IPO and has established a strong institutional investor base. We are proud to have backed and supported an outstanding entrepreneurial management to build the leading European cable operator, beginning with our investment in Multikabel in 2005.
“We believe that Ziggo is well positioned to deliver continued value creation through innovative services for its customers, building on its impressive track record to date. We thank the company and its management team for their partnership over the past seven years and wish them continued success in future.”
In March AltAssets reported that Netherlands-based cable operator Ziggo had reduced their stake to 17 per cent, after selling 20 per cent of their shares.
Ziggo, which provides analogue and digital television, broadband and telephone services to 56 per cent of the Netherlands, was due to float on the Dutch bourse last year but the listing was postponed due to widespread volatility in the European capital markets.
The business generated revenues of €1.48bn in 2011 and EBITDA of €835m.
Cinven and Warburg formed Ziggo by buying and merging three of the four biggest cable businesses in the Netherlands. The initial buy-out in September 2006 was valued at €5.45bn.
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