Liberty Global has engaged Goldman Sachs Group Inc. to oversee a potential sale process for its half ownership of Wyre, a Belgian network company, people familiar with the situation said.
The holding under consideration amounts to 50% of Wyre and those sources indicated the stake could fetch roughly 1 billion, equivalent to about $1.2 billion. Interest in the asset is anticipated to come from both infrastructure-focused investment funds and private equity firms, according to the same people.
Those close to the discussions emphasized that talks are at a preliminary stage. Liberty Global may ultimately opt not to proceed with a disposal, and no definitive agreement has been announced.
Below we set out the known facts and immediate context as provided by the people familiar with the matter. The information available at this stage is limited to the size of the holding, the approximate valuation range reported by the sources, the adviser retained for a potential process, and the types of investors likely to be targeted.
Summary of developments
- Goldman Sachs has been retained to arrange a potential sale of Liberty Globals 50% stake in Wyre.
- The stake could be valued at approximately 1 billion, or about $1.2 billion, according to people familiar with the matter.
- Infrastructure funds and private equity firms are the investor classes expected to show interest, per the same sources.
What is and is not known
Known: the adviser engaged, the ownership share under consideration, an indicative valuation reported by the people cited, and the investor types likely to be approached. Not known: any timetable for a sale, whether a formal marketing process will be launched, or which specific buyers might enter a bidding process. The sources described the deliberations as early-stage and said Liberty Global could decide against a sale.
This account reflects the details that have been provided by the people familiar with the matter and does not extend beyond those disclosures.