Cinven and Warburg Pincus are looking to sell a higher stake of Dutch cable company Ziggo than they had previously planned. 

The private equity firms own a 57.1 per cent stake in Ziggo with other co-investors, and are looking to sell 37 million shares, equivalent to an 18.5 per cent stake, up from the 25 million shares the investors had initially anticipated putting up for sale. 

Strong interest from the market has enabled Cinven and Warburg Pincus to increase the private placement to Dutch and international institutional investors, and they could sell a further three million shares through an over-allotment option. The firms stand to make €1bn from the deal.

Assuming they do not decide to exercise the over-allotment option, the private equity firms and co-investors will keep a 38.6 per cent interest in the business after the sale. 

Cinven and Warburg Pincus sold €681.5m of shares in Ziggo earlier this year following a successful IPO on the NYSE Euronext Amsterdam. 

JPMorgan and Morgan Stanley are the joint bookrunners on the offering.