Liberty Global Inc. (NasdaqGS: LBTY.A) entered into an agreement to acquire Kabel Baden-Württemberg GmbH & Co. KG from EQT IV and EQT V, L.P. managed by EQT Partners AB for €3.2 billion on March 21, 2011. The purchase price includes net debt and certain other liabilities and accruals of €1.1 billion. Of the purchase price, €50 million will be deposited in escrow until the later of March 31, 2012 and four months after closing pending any claims under the purchase agreement. Liberty Global currently intends to fund payment of the purchase price with available cash. Liberty will be obligated to pay EQT a break-up fee in the amount of €150 million in the event of the purchase agreement being rescinded. EQT has decided that KBW and its holding company will immediately undergo a recapitalization, in which it is targeting to issue approximately €2.25 billion in new debt financing. The new capital structure will be assumed by Liberty Global Inc. upon completion of the transaction. The transaction is subject to regulatory approval and Federal Cartel authority and is expected to close in the second half of 2011. As of June 17, 2011, the European Commission has referred the deal to German competition authority. As of December 15, 2011, the transaction was approved by the The Federal Cartel Office. As of December 15, 2011, the transaction received regulatory approval.

Liberty Global Inc. (NasdaqGS: LBTY.A) completed the acquisition of Kabel Baden-Württemberg GmbH & Co. KG from EQT IV and EQT V, L.P. managed by EQT Partners AB on December 15, 2011. On August 14, 2013, a higher Regional Court in Duesseldorf nullified the approval by the German Cartel Office and ruled that the case be looked into again.

The Goldman Sachs Group, Inc. (NYSE: GS) acted as financial advisor and Michael Haidinger, Thomas Tschentscher, Michael Esser, Yorck Jetter, Andreas König, Jonathan Shann, Christian Sistermann, Jochen Leßmann, Andrea Lensing-Kramer, Danielle Herrmann, Nis Carstens, Tilmann Gütt, Carsten Endres, Richard Perks, Anette Maier, Lutz Schreiber, Christoph Backert, Laura Dierking, Lars Meyer, Olaf Ehlers, Stefanie Böhnstedt, Amir-Said Ghassabeh, Jacqueline Stein-Kaempfe, Ramya Tiller, Sascha Schubert, Ben Graham, Anselm Rodenhausen, Frank Dittschar, Arno Riße, Rüdiger Hopfe and Lutz Reulecke of Freshfields Bruckhaus Deringer LLP acted as legal advisor for Liberty Global Inc. Deutsche Bank AG, JP Morgan and Royal Bank of Scotland Group plc (LSE: RBS) acted as financial advisors to EQT Partners AB. Hans-Jörg Ziegenhain, Steffen Oppenländer, Maximilian Schiessl, Alexander G. Rang, Christian Möller, Alf-Henrik Bischke, Christian Hoefs, Martin Klein, Ingo Strauß, Maximilian Brosinger, Carolin Stumm, Michael Breyer, Nicole Hasselmann, Peter Wehner of Hengeler Mueller and Philip J. Boeckman of Cravath, Swaine & Moore LLP acted as legal advisors for EQT. Benedikt Hohaus and Barbara Koch-Schulte of P+P Pöllath + Partners acted as legal advisor to EQT. Arndt Stengel, Habib Motani, Marc Besen, Oliver Polster, Rezah Stegeman and Andrew Woolmer of Clifford Chance LLP acted as legal advisor to JPMorgan Chase & Co. Stephan Hutter, Katja Kaulamo and Johannes Frey of Shearman & Sterling LLP acted as a legal advisor to Deutsche Bank AG and JPMorgan Chase & Co. Ernst & Young acted as an accountant and provided due diligence to Liberty Global. Philip Bowde and Ryan Nelson of Allen & Overy LLP acted as legal advisors for Credit Suisse, Deutsche Bank and JPMorgan on financing for the transaction. Jane Rogers, Tania Bedi, Maurice Allen, Mike Goetz, Michael Kazakevich, Robert Haak, Collin McDonald, Dave Burley, Haden Henderson, Eric Issadore and Bettina Kloubert of Ropes & Gray LLP acted as legal advisor for Liberty Global Inc advising on financing matters.

Liberty Global Inc. (NasdaqGS: LBTY.A) completed the acquisition of Kabel Baden-Württemberg GmbH & Co. KG from EQT IV and EQT V, L.P. managed by EQT Partners AB on March 15, 2015. The two competitors withdrew their appeal against the decision of Federal Cartel Office during the fourth quarter of 2014. On January 21, 2015, the Federal Cartel Office consented to the withdrawal and on March 15, 2015, the Federal Court of Justice terminated the proceedings as a result of which the Federal Cartel Office's earlier clearing decision became final without any additional review or conditions.