Liberty Global Sells Norwegian Op

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Liberty Global Inc. said Monday that it has reached an agreement to sell 100% of its Norwegian cable business, UPC Norge AS, to Candover Partners Ltd.

UPC Norge had 375,300 customers as of Sept. 30.

Liberty Global said the transaction is valued at approximately $540 million, or 10.4 times UPC Norge's operating cash flow for the 12-month period ending Sept. 30.

The transaction is expected to close during the first quarter, Liberty Global said.

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