The transaction was put on hold just ahead of the roadshows last month after the regulator asked for clarification on termination rights – the fees charged to other network operators for use of Outremer’s network. The company has now filed an addendum to the regulator incorporating a clear list of tariffs for 2007 and 2008.
Outremer was bought by Apax Partners in a deal that closed in early January 2005. The purchase price was rumoured to be about €70m. Financing for the acquisition was provided by Barclays and Outremer’s turnover in 2004 was €68m, up from €60m in 2003.
The company provides fixed-line and mobile telecoms services in the four French overseas “departments” of Martinique, French Guiana, Reunion and Guadeloupe.
In December 2005, it also launched a mobile service in the Antilles.
UK self-storage group
Even at the bottom of the range the company is valued at a substantial premium to NAV and would give it a market cap of £415m–£501m.
Bridgepoint backed the September 2003 £39.8m public-to-private of Safestore and has since carried out a number of bolt-on acquisitions. In June 2004, it acquired rival Mentmore in a “transformational” £209m transaction, followed by the purchases of Access Self Storage of France and Storage World in the UK, both for undisclosed sums.
In July last year,