-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JruBprBX7rVZ1BDuIYFHhyoZNoLeckWF5Dh3qeTKuhwrpj3ZyrkSHv+rv/BqZ5sA so2rZtmI4A8bhkTNKx5iPw== 0000914121-03-001409.txt : 20031028 0000914121-03-001409.hdr.sgml : 20031028 20031027213353 ACCESSION NUMBER: 0000914121-03-001409 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20031028 GROUP MEMBERS: CITIGROUP FINANCIAL PRODUCTS INC. GROUP MEMBERS: CITIGROUP GLOBAL MARKETS HOLDINGS INC. GROUP MEMBERS: CITIGROUP INC. GROUP MEMBERS: EDWARD A. MULE GROUP MEMBERS: EVEREST CAPITAL LIMITED GROUP MEMBERS: PERRY CORP. GROUP MEMBERS: RICHARD C. PERRY GROUP MEMBERS: ROBERT O'SHEA GROUP MEMBERS: SILVER POINT CAPITAL FUND, L.P. GROUP MEMBERS: SILVER POINT CAPITAL GENERAL PARTNER, LLC GROUP MEMBERS: SILVER POINT CAPITAL HOLDINGS, LLC GROUP MEMBERS: SILVER POINT CAPITAL MANAGEMENT, L.P. GROUP MEMBERS: SILVER POINT CAPITAL MANAGEMENT, LLC GROUP MEMBERS: SILVER POINT CAPITAL, L.P. GROUP MEMBERS: SILVER POINT PARTNERS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: UGC EUROPE INC CENTRAL INDEX KEY: 0001070778 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] IRS NUMBER: 200173340 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-55939 FILM NUMBER: 03959528 BUSINESS ADDRESS: STREET 1: 4643 SOUTH ULSTER STREET STREET 2: SUITE 1300 CITY: DENVER STATE: CO ZIP: 80237 BUSINESS PHONE: (303) 770-4001 FORMER COMPANY: FORMER CONFORMED NAME: UNITED PAN EUROPE COMMUNICATIONS NV DATE OF NAME CHANGE: 19980921 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SALOMON BROTHERS ASSET MANAGEMENT INC CENTRAL INDEX KEY: 0000857537 IRS NUMBER: 133440564 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 388 GREENWICH ST CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2127937392 MAIL ADDRESS: STREET 1: 388 GREENWICH ST CITY: NEW YORK STATE: NY ZIP: 10013 SC 13D 1 ug680857-sc13d.txt BENEFICIAL OWNERS SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) UGC Europe, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 90268P 10 2 -------------------------------------------- (CUSIP Number) Dennis J. Block, Esq. Cadwalader, Wickersham & Taft LLP 100 Maiden Lane New York, NY 10038 (212) 504-5555 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 17, 2003 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - ---------------------- ------------------ CUSIP No. 90268P 10 2 SCHEDULE 13D Page 2 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Perry Corp. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 952,525 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 0 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 952,525 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IA, CO - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 90268P 10 2 SCHEDULE 13D Page 3 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Richard C. Perry S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) N/A - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 952,525 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 0 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 952,525 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) HC, IN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 90268P 10 2 SCHEDULE 13D Page 4 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Everest Capital Limited S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 576,521 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 0 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 576,521 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IA, CO - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 90268P 10 2 SCHEDULE 13D Page 5 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Salomon Brothers Asset Management Inc S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[X] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 1,700,880 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 1,700,880 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) CO - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 90268P 10 2 SCHEDULE 13D Page 6 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Citigroup Financial Products Inc. (f/k/a Salomon Brothers Holding Company Inc) S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[X] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 1,700,880 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 1,700,880 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) HC - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 7 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Citigroup Global Markets Holdings Inc. (f/k/a Salomon Smith Barney Holdings Inc.) S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[X] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 1,700,880 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 1,700,880 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) CO - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 8 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Citigroup Inc. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[X] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 1,700,880 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 1,700,880 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) HC - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 9 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Capital Fund, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 255,257 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 255,257 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 10 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Capital General Partner, LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 255,257 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 255,257 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 11 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Capital Holdings, LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 255,257 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 255,257 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 12 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Partners S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 255,257 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 255,257 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 13 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Capital, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 728,766 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 728,766 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 14 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Capital Management, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 728,766 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 728,766 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 15 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Silver Point Capital Management, LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 728,766 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 728,766 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 16 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Edward A. Mule S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 728,766 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 728,766 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 17 of 51 - ---------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Robert O'Shea S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)[ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 728,766 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 728,766 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,958,695* - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- * See Item 5 herein. - -------------------------------------------------------------------------------- - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 18 of 51 - ---------------------- ------------------ INTRODUCTION This Schedule 13D is being filed to report the formation of a group for the purpose of acquiring, holding, voting or disposing of securities of UGC Europe, Inc., a Delaware corporation (the "Company"). Item 1. Security and Issuer. This statement relates to shares of the Company's Common Stock, $0.01 par value per share (the "Common Stock"). The Company's principal executive offices are located at 4643 South Ulster Street, Denver, CO 80237. The number of issued and outstanding shares of Common Stock as of October 17, 2003, as reported in the Company's Schedule 14D-9 filed on October 20, 2003, is 49,985,101. Item 2. Identity and Background. (a) This statement on Schedule 13D is being filed jointly on behalf of the following persons (collectively, the "Reporting Persons"): (i) Perry Corp., as managing general partner of Perry Partners, L.P., as investment manager of Perry Partners International, Inc. and as investment manager of Auda Classic, PLC ("Perry Corp."); (ii) Richard C. Perry, the sole stockholder of Perry Corp.; (iii) Everest Capital Limited, as agent for certain managed accounts ("Everest"); (iv) Salomon Brothers Asset Management Inc, on behalf of certain fiduciary clients, ("SBAM"); (v) Citigroup Financial Products Inc. (f/k/a Salomon Brothers Holding Company Inc), the sole shareholder of SBAM, ("CFP"); (vi) Citigroup Global Markets Holdings Inc. (f/k/a Salomon Smith Barney Holdings Inc.), the sole shareholder of CFP ("CGMH"); (vii) Citigroup Inc., the sole shareholder of CGMH ("Citigroup"); (viii) Silver Point Capital Fund, L.P. (the "Partnership"); (ix) Silver Point Capital General Partner, LLC (the "General Partner"); (x) Silver Point Capital Holdings, LLC ("SPCH"); (xi) Silver Point Partners ("SPP"); (xii) Silver Point Capital, L.P. (the "Investment Manager"); (xiii) Silver Point Capital Management, L.P. ("IMGP"); (xiv) Silver Point Capital Management, LLC ("SPCM"); (xv) Edward A. Mule and (xvi) Robert O'Shea (viii-xvi collectively, "Silver Point"). Perry Corp. is the direct beneficial owner of the Company's Common Stock. Richard C. Perry's beneficial ownership is indirect as a result of his ownership of Perry Corp. SBAM is the direct beneficial owner of the Company's Common Stock. CFP's beneficial ownership is indirect as a result of its ownership of SBAM. CGMH's beneficial ownership is indirect as a result of its ownership of CFP. Citigroup's beneficial ownership is indirect as a result of its ownership of CGMH. The Partnership is a direct beneficial owner of the Company's Common Stock. The General Partner, SPCH and SPP are indirect beneficial owners of the Company's Common Stock as a result of their relationships to the Partnership. The Investment - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 19 of 51 - ---------------------- ------------------ Manager, IMGP, SPCM, Edward A. Mule, and Robert O'Shea are indirect beneficial owners of the Company's Common Stock as a result of their relationships to the Partnership and Silver Point Capital Offshore Fund, Ltd. The indirect beneficial ownership interests of Richard C. Perry, CFP, CGMH, Citigroup, the General Partner, SPCH, SPP, Investment Manager, IMGP, SPCM, Edward A. Mule and Robert O'Shea are reported solely because Rule 13-d(1)(a) promulgated under the Securities Exchange Act of 1934, as amended, (the "Exchange Act") requires any person who is "directly or indirectly" the beneficial owner of more than five percent of any equity security of a specific class to file a Schedule 13D within the specified time period. The answers on blocks 8, 10, 11, and 13 on pages 3, 6, 7 and 8 above and the response in Item 5 below by Richard C. Perry, CFP, CGMH, Cititgroup, the General Partner, SPCH, SPP, Investment Manager, IMGP, SPCM, Edward A. Mule and Robert O'Shea are given on the basis of the "indirect" beneficial ownership referred to in such Rule based on the direct beneficial ownership of the Company's Common Stock and the relationships between the entities given above. (b) The principal business addresses for the Reporting Persons are as follows: (i) Perry Corp.: 599 Lexington Avenue, New York, NY 10022; (ii) Richard C. Perry: 599 Lexington Avenue, New York, NY 10022; (iii) Everest: The Bank of Butterfield Building, 65 Front Street, 6th Floor, Hamilton, Bermuda HMJX; (iv) SBAM: 399 Park Avenue, New York, NY 10022; (v) CFP: 388 Greenwich Street, New York, NY 10013; (vi) CGMH: 388 Greenwich Street, New York, NY 10013; (vii) Citigroup: 399 Park Avenue, New York, NY 10022; and (viii) Silver Point: 600 Steamboat Road, Greenwich, CT 06830. (c) The principal businesses of the Reporting Persons are as follows: (i) Perry Corp. is a registered investment adviser that provides asset management services to private investment funds; (ii) Richard C. Perry is President, sole director, and sole stockholder of Perry Corp.; (iii) Everest is investment management of private investment vehicles and managed accounts; - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 20 of 51 - ---------------------- ------------------ (iv) SBAM is a registered investment adviser that provides investment management services to registered investment companies, individuals and institutions on a discretionary basis; (v) CFP is a holding company principally engaged, through its subsidiaries, in securities brokerage, asset management and related financial services; (vi) CGMH is a holding company principally engaged, through its subsidiaries, in securities brokerage, asset management and related financial services; and (vii) Citigroup is a diversified holding company that, through its subsidiaries, provides a broad range of financial services to consumer and corporate customers around the world. The following information with respect to the executive officers and directors of the corporate Reporting Persons is set forth on Schedule A, attached hereto: (i) name; (ii) business address; (iii) the present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted; and (iv) citizenship. The information regarding the executive officers and directors is provided solely by reason of Instruction C to Schedule 13D; they are not Reporting Persons for purposes of this Schedule 13D. (d) None of the Reporting Persons or, to the best knowledge of the Reporting Persons, any of the persons listed on Schedule A, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) On April 28, 2003, Salomon Smith Barney, Inc., now known as Citigroup Global Markets Inc. ("CGMI"), announced final agreements with the Securities and Exchange Commission, the National Association of Securities Dealers, the New York Stock Exchange and the New York Attorney General (as lead state among the 50 states, the District of Columbia and Puerto Rico) to resolve on a civil basis all their outstanding investigations into its research and initial public offering allocation and distribution practices. CGMI agreed to pay $300 million for retrospective relief, plus $25 million for investor education, and committed to spend $75 million to provide independent third-party research to its clients at no charge. CGMI reached these final settlement agreements without admitting or denying any wrongdoing or liability. The settlements do not establish wrongdoing or liability for purposes of any other proceeding. Other than described above, during the last five years, none of the Reporting Persons or, to the best knowledge of the Reporting Persons, any of the persons listed on Schedule A, was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 21 of 51 - ---------------------- ------------------ mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Citizenship of the Reporting Persons is as follows: (i) Perry Corp. is a New York corporation; (ii) Richard C. Perry is a U.S. citizen; (iii) Everest is a Bermuda corporation; (iv) SBAM is a Delaware corporation; (v) CFP is a Delaware corporation; (vi) CGMH is a Delaware corporation; (vii) Citigroup is a Delaware corporation; and (viii) Silver Point is group of Delaware entities and United States citizens. Item 3. Source and Amount of Funds or Other Consideration. The net investment cost (including commissions, if any) of the shares of Common Stock beneficially owned by Perry Corp. and Richard C. Perry is $21,562,308.17. The source of funds for this consideration was working capital. The net investment cost (including commissions, if any) of the shares of Common Stock beneficially owned by Everest is $19,778,387. The source of funds for this consideration was working capital. The net investment cost (including commissions, if any) of the shares of Common Stock beneficially owned by SBAM, CFP, CGMH and Citigroup is $45,260,419. The source of funds for this consideration was working capital. The source of funds for the Common Stock beneficially owned by Silver Point was working capital. Item 4. Purpose of Transaction. On October 6, 2003, UnitedGlobalCom, Inc. ("United") announced an exchange offer for all of the outstanding publicly held shares of the Company that United and its subsidiaries do not already own (the "Offer"). Pursuant to the terms of the Offer, the Company's stockholders will receive 9 shares of United's Class A common stock for each outstanding share of the - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 22 of 51 - ---------------------- ------------------ Company validly tendered and not withdrawn in the exchange offer. On October 17, 2003, Perry Corp., Everest, SBAM and Silver Point Capital (collectively, the "Stockholders") reached an agreement in principle to act together as the Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. (the "Committee"). The Stockholders formed the Committee because they are disappointed with the exchange ratio and other issues relating to the value of United's Offer. Although the Stockholders have no written agreement at this time which sets forth the terms of their participation on the Committee, they have agreed to take concerted action to obtain fair value for the Common Stock held by the Stockholders and other minority stockholders of the Company. As a result of their participation in the Committee, the Stockholders formed a "group," within the meaning of Section 13(d) of the Exchange Act and Rule 13d-5(b)(1) thereunder. The formation of a group is deemed an acquisition by the group of the shares held individually by the group's members. The filing of this Schedule 13D is necessitated because the group holds more than 5% of the outstanding Common Stock of the Company. The Stockholders intend to take any and all action they deem appropriate to maximize the value of their shares, including, without limitation, negotiating together with representatives of the Company and United for, and otherwise advocating, a fair price for their shares. The Reporting Persons reserve the right to change their plans or intentions and to take any and all actions that they may deem appropriate to maximize the value of their investment, including, among other things, acquiring additional securities of the Company, disposing of any securities of the Company owned by them, or formulating other plans or proposals regarding the Company or its securities to the extent deemed advisable by the Reporting Persons in light of their general investment policies, market conditions, subsequent developments affecting the Company and the general business and future prospects of the Company. Except as set forth above, the Reporting Persons do not have any current intention, plan or proposal with respect to: (a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Company's business or corporate structure; (g) changes in the Company's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange, if any, or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Company becoming eligible for termination of a registration pursuant to Section 12(g)(4) of the Act; or (j) any action similar to any of those enumerated above. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 23 of 51 - ---------------------- ------------------ Item 5. Interest in Securities of the Issuer. (a) As of the date hereof, the Reporting Persons have the following interest in the securities of the Company: (i) Perry Corp. beneficially owns 952,525 shares of Common Stock and is the beneficial owner of 1.9% of the Common Stock. (ii) Richard C. Perry, as the President, sole director and sole stockholder of Perry is an indirect beneficial owner of 952,525 shares of Common Stock and the indirect beneficial owner of 1.9% of the Common Stock. (iii) Everest beneficially owns 576,521 shares of Common Stock and is the beneficial owner of 1.2% of the Common Stock. (iv) SBAM beneficially owns 1,700,880 shares of Common Stock and is the beneficial owner of 3.4% of the Common Stock. (v) CFP is an indirect beneficial owner of 1,700,880 shares of Common Stock and is the indirect beneficial owner of 3.4% of the Common Stock. (vi) CGMH is an indirect beneficial owner of 1,700,880 shares of Common Stock and is the indirect beneficial owner of 3.4% of the Common Stock. (vii) Citigroup is an indirect beneficial owner of 1,700,880 shares of Common Stock and is the indirect beneficial owner of 3.4% of the Common Stock. (viii) Silver Point directly and indirectly beneficially owns 728,766 shares of the Common Stock and is the direct and indirect beneficial owner of 1.5% of the Common Stock. The Reporting Persons in the aggregate may be deemed to beneficially own 3,958,695 shares of Common Stock and 7.9% of the Common Stock. (b) The table below sets forth for each Reporting Person, the numbers of shares of Common Stock for which there is sole power to vote or to direct the vote, shared power to vote or direct the vote, or sole or shared power to dispose or to direct the disposition. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 24 of 51 - ---------------------- ------------------
Sole Power Shared Sole Power Shared Power Percentage of Aggregate Percentage to Vote/ Power to to Dispose/ to Dispose/ Common Stock Beneficial of Common Direct Vote/ Direct Direct (not as a Ownership (2) Stock (as a Vote (1) Direct Vote Disposition Disposition group) (1) group) (2) (1) (1) (1) Perry Corp. 952,525 0 952,525 0 1.9% 3,958,695 7.9% Richard C Perry (as indirect beneficial owner) 952,525 0 952,525 0 1.9% 3,958,695 7.9% Everest 576,521 0 576,521 0 1.2% 3,958,695 7.9% SBAM 0 1,700,880 0 1,700,880 3.4% 3,958,695 7.9% CFP 0 1,700,880 0 1,700,880 3.4% 3,958,695 7.9% CGMH 0 1,700,880 0 1,700,880 3.4% 3,958,695 7.9% Citigroup 0 1,700,880 0 1,700,880 3.4% 3,958,695 7.9% Partnership 0 255,257 0 255,257 0.05% 3,958,695 7.9% General Partner 0 255,257 0 255,257 0.05% 3,958,695 7.9% SPCH 0 255,257 0 255,257 0.05% 3,958,695 7.9% SPP 0 255,257 0 255,257 0.05% 3,958,695 7.9% Investment Manager 0 728,766 0 728,766 1.5% 3,958,695 7.9% IMGP 0 728,766 0 728,766 1.5% 3,958,695 7.9% SPCM 0 728,766 0 728,766 1.5% 3,958,695 7.9% Edward A. Mule 0 728,766 0 728,766 1.5% 3,958,695 7.9% Robert O'Shea 0 728,766 0 728,766 1.5% 3,958,695 7.9%
(1) Calculated in accordance with Rule 13d-3 of the Exchange Act, excluding shares owned beneficially solely because of the formation of a group. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 25 of 51 - ---------------------- ------------------ (2) Calculated in accordance with Rule 13d-3 and Rule 13d-5(b)(1) of the Exchange Act, including shares owned beneficially solely because of the formation of a group. ----------------- (c) To the best knowledge of the Reporting Persons, there have been no purchases or sales of the Company's stock by the Reporting Persons within the last sixty days, except for the following open market transactions: Perry Corp. (1) On October 6, 2003, Perry Corp. sold 38,500 shares of Common Stock at a price of $56.18 per share and 5,000 shares of Common Stock at a price of $55.49 per share. (2) On October 8, 2003, Perry Corp. purchased 21,800 shares of Common Stock at a price of $$56.12 per share. (3) On October 9, 2003, Perry Corp. purchased 24,081 shares of Common Stock at a price of $57.23 per share. (4) On October 10, 2003, Perry Corp. purchased 10,000 shares of Common Stock at a price of $57.69 per share. (5) On October 13, 2003, Perry Corp. purchased 2,800 shares of Common Stock at a price of $59.00 per share and 6,925 shares of Common Stock at a price of $58.26 per share. (6) On October 14, 2003, Perry Corp. purchased 25,000 shares of Common Stock at a price of $59.45 per share and 10,000 shares of Common Stock at a price of $59.45 per share. (7) On October 15, 2003, Perry Corp. purchased 2,300 shares of Common Stock at a price of $60.19 per share. (8) On October 16, 2003, Perry Corp. sold 30,000 shares of Common Stock at a price of $62.20 per share and 1,000 shares of Common Stock at a price of $62.24 per share. (9) On October 17, 2003, Perry Corp. purchased 12,500 shares of Common Stock at a price of $62.59 per share and 400 shares of Common Stock at a price of $62.03 per share. SBAM (1) On September 3, 2003, SBAM sold 25,000 shares of Common Stock at a price of $61.45 per share. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 26 of 51 - ---------------------- ------------------ (2) On September 4, 2003, SBAM sold 21,800 shares of Common Stock at a price of $60.77 per share. (3) On September 5, 2003, SBAM sold 18,500 shares of Common Stock at a price of $60.00 per share and 27,500 shares of Common Stock at a price of $60.05 per share. (4) On September 8, 2003, SBAM sold 12,800 shares of Common Stock at a price of $59.50 per share and 30,600 shares of Common Stock at a price of $59.90 per share. (5) On September 9, 2003, SBAM sold 2,500 shares of Common Stock at a price of $59.00 per share. (6) On September 10, 2003, SBAM purchased 1,800 shares of Common Stock at a price of $56.35 per share. (7) On September 11, 2003, SBAM purchased 1,800 shares of Common Stock at a price of $55.30 per share. (8) On September 12, 2003, SBAM purchased 3,600 shares of Common Stock at a price of $54.46 per share. (9) On September 17, 2003, SBAM sold 10,000 shares of Common Stock at a price of $57.71 per share. (10) On September 19, 2003, SBAM sold 10,050 shares of Common Stock at a price of $57.69 per share. (11) On September 29, 2003, SBAM sold 9,200 shares of Common Stock at a price of $54.40 per share and 1,754 shares of Common Stock at a price of $54.00 per share. (12) On October 1, 2003, SBAM purchased 7,800 shares of Common Stock at a price of $52.22 per share. (13) On October 2, 2003, SBAM purchased 3,500 shares of Common Stock at a price of $52.25 per share. (14) On October 8, 2003, SBAM purchased 5,100 shares of Common Stock at a price of $56.21 per share. (15) On October 14, 2003, SBAM sold 50,000 shares of Common Stock at a price of $59.44 per share. (16) On October 15, 2003, SBAM sold 24,360 shares of Common Stock at a price of $62.12 per share. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 27 of 51 - ---------------------- ------------------ The Partnership (1) On September 17, 2003, the Partnership sold 8,750 shares of Common Stock at a price of $57.43 per share. (2) On September 25, 2003, the Partnership sold 8,750 shares of Common Stock at a price of $56.44 per share. (3) On September 26, 2003, the Partnership sold 8,750 shares of Common Stock at a price of $53.35 per share. (4) On October 3, 2003, the Partnership sold 7,000 shares of Common Stock at a price of $53.76 per share. (5) On October 6, 2003, the Partnership sold 10,500 shares of Common Stock at a price of $56.35 per share. (6) On October 7, 2003, the Partnership sold 70 shares of Common Stock at a price of $56.60 per share. (7) On October 8, 2003, the Partnership sold 7,455 shares of Common Stock at a price of $56.25 per share. (8) On October 9, 2003, the Partnership sold 15,750 shares of Common Stock at a price of $56.74 per share. Investment Manager (1) On September 17, 2003, the Partnership sold 16,250 shares of Common Stock at a price of $57.43 per share. (2) On September 25, 2003, the Partnership sold 16,250 shares of Common Stock at a price of $56.44 per share. (3) On September 26, 2003, the Partnership sold 16,250 shares of Common Stock at a price of $53.35 per share. (4) On October 3, 2003, the Partnership sold 13,000 shares of Common Stock at a price of $53.76 per share. (5) On October 6, 2003, the Partnership sold 19,500 shares of Common Stock at a price of $56.35 per share. (6) On October 7, 2003, the Partnership sold 130 shares of Common Stock at a price of $56.60 per share. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 28 of 51 - ---------------------- ------------------ (7) On October 8, 2003, the Partnership sold 13,845 shares of Common Stock at a price of $56.25 per share. (8) On October 9, 2003, the Partnership sold 29,250 shares of Common Stock at a price of $56.74 per share. (d) The limited partners of (or investors in) each of two or more private investment funds for which Perry Corp. acts as general partner and/or investment adviser have the right to participate in the receipt of dividends from, or proceeds from the sale of, the shares held for the accounts of their respective funds in accordance with their respective limited partnership interests (or investment percentages) in their respective funds. The General Partner, as general partner of the Partnership, has the power to direct its affairs, including decisions concerning the voting and disposition of the shares. SPCH is the managing member of the General Partner and in that capacity its operations. SPP is the managing member of SPCH and in that capacity directs its operations. The Investment Manager, as investment manager to the Partnership and Silver Point Capital Offshore Fund, Ltd., a Cayman Islands exempted company (the "Offshore Fund"), has the power to vote and dispose of shares held directly by each of the Partnership and Offshore Fund. IMGP is the general partner of Investment Manager, and in that capacity directs its operations. SPCM is the managing member of IMGP and that capacity directs its operations. Edward A. Mule and Robert O'Shea are the managing members of SPCM and the partners of SPP and in such capacities direct the operations of each. No person other than the remaining Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from or the proceeds from the sale of such Common Stock. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Although the Stockholders do not have a written agreement at this time which sets forth the terms of their participation on the Committee, they have agreed to take concerted action to obtain fair value for the Common Stock held by the Stockholders and other minority stockholders of the Company. Except for the arrangements described in Item 5(d) above, to the best knowledge of the Reporting Persons, there are no other contracts, arrangements, understandings or relationships - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 29 of 51 - ---------------------- ------------------ (legal or otherwise) among the persons named in Item 2 and between such persons and any other person with respect to any securities of the Company, including but not limited to, transfer of voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. Item 7. Materials to be Filed as Exhibits. EXHIBIT 1 Letter, dated October 17, 2003, from the Stockholders to the Company's Special Committee of Independent Directors to notify it of their disappointment relating to the terms of the proposed exchange offer between United and the Company and of their formation of the Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. EXHIBIT 2 Press Release, dated October 19, 2003. EXHIBIT 3 Joint Filing Agreement, dated October 27, 2003. - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 30 of 51 - ---------------------- ------------------ Signature. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. SALOMON BROTHERS ASSET MANAGEMENT INC, on behalf of certain fiduciary clients By: /s/ Robert M. Donahue, Jr. ---------------------------- Name: Robert M. Donahue, Jr. Title: Managing Director Date: 10/27/03 CITIGROUP FINANCIAL PRODUCTS INC (f/k/a Salomon Brothers Holding Company Inc) By: /s/ Serena D. Moe ------------------- Name: Serena D. Moe Title: Assistant Secretary Date: 10/27/03 - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 31 of 51 - ---------------------- ------------------ CITIGROUP GLOBAL MARKETS HOLDINGS INC. (f/k/a Salomon Smith Barney Holdings Inc) By: /s/ Serena D. Moe --------------------- Name: Serena D. Moe Title: Assistant Secretary Date: 10/27/03 CITIGROUP INC. By: /s/ Serena D. Moe --------------------- Name: Serena D. Moe Title: Assistant Secretary Date: 10/27/03 PERRY CORP., as Managing General Partner of Perry Partners, L.P. By: /s/ Paul Leff ----------------- Name: Paul Leff Title: Senior Managing Director Date: 10/27/03 - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 32 of 51 - ---------------------- ------------------ PERRY CORP., as Investment Manager of Perry Partners International, Inc. By: /s/ Paul Leff --------------- Name: Paul Leff Title: Senior Managing Director Date: 10/27/03 PERRY CORP., as Investment Manager of Auda Classic, PLC By: /s/ Paul Leff --------------- Name: Paul Leff Title: Senior Managing Director Date: 10/27/03 By: /s/ Richard C. Perry --------------------- Name: Richard C. Perry Date: 10/27/03 - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 33 of 51 - ---------------------- ------------------ EVEREST CAPITAL LIMITED, as agent for certain managed accounts By: /s/ Malcolm Stott ------------------ Name: Malcolm Stott Title: Chief Operating Officer Date: 10/27/03 By: /s/ Edward A. Mule ------------------- Name: Edward A. Mule, individually and (a) as partner of Silver Point Partners, for itself and as managing member of Silver Point Capital Holdings, LLC, for itself and as managing member of Silver Point Capital General Partner, LLC, for itself and as general partner of Silver Point Capital Fund, L.P.; and (b) as managing member of Silver Point Capital Management, LLC, for itself and as the general partner of Silver Point Capital Management, L.P., for itself and as the general partners of Silver Point Capital, L.P. Date: 10/27/03 - ---------------------- ------------------ CUSIP No. 461120 10 7 SCHEDULE 13D Page 34 of 51 - ---------------------- ------------------ By: /s/ Robert O'Shea ------------------ Name: Robert O'Shea Date: 10/27/03 SCHEDULE A I. Officers and Directors at Perry Corp. (other than Richard C. Perry): Name and Principal Occupation Citizenship Business Address ----------------------------- ----------- ---------------- USA Randall Borkenstein c/o Perry Corp. Chief Financial Officer 599 Lexington Ave, 36th Floor New York, NY 10022 William J. Vernon USA c/o Perry Corp. Secretary 599 Lexington Ave, 36th Floor New York, NY 10022 II. Officers and Directors at Everest: Name and Principal Occupation Citizenship Business Address ----------------------------- ----------- ---------------- Malcolm Stott British The Bank of Butterfield Building Chief Operating Officer 65 Front Street, 6th Floor and Director Hamilton, Bermuda HMJX III. Officers and Directors at Salomon Brothers Asset Management Inc.: Principal Occupation Name and Title Citizenship and Business Address -------------- ----------- -------------------- Virgil H. Cumming USA Chief Investment Officer Director Retail & High Net Worth Citigroup Asset Management 399 Park Avenue New York, NY 10022 Evan Merberg USA Chief Administrative Director Officer Citigroup Asset Management 399 Park Avenue New York, NY 10022 Peter Wilby USA Chief Investment Officer Director and Executive Officer North American Fixed Income Citigroup Asset Management 399 Park Avenue New York, NY 10022 William Arnold USA Chief Financial Officer Executive Officer Citigroup Asset Management 399 Park Avenue New York, NY 10022 IV. Officers and Directors at Citigroup Inc.: Principal Occupation Name and Title Citizenship and Business Address -------------- ----------- -------------------- C. Michael Armstrong USA Chairman Director Comcast Corporation 114 Avenue of the Americas 21st Floor New York, NY 10036 Alain J. P. Belda Brazil Chairman and Chief Executive Director Officer Alcoa 390 Park Avenue, 11th Floor New York, NY 10022 George David USA Chairman and Chief Executive Director Officer United Technologies Corporation One Financial Plaza Hartford, CT 06101 Kenneth T. Derr USA Chairman, Retired Director Chevron Texaco Corporation 345 California Street Room 3016 San Francisco, CA 94104 John M. Deutch USA Institute Professor Director Massachusetts Institute of Technology 77 Massachusetts Ave., Room 6-208 Cambridge, MA 02139 The Honorable Gerald R. Ford USA Former President of the Honorary Director United States 40365 Sand Dune Road Rancho Mirage, CA 92270 Roberto Hernandez Ramirez Mexico Chairman of the Board Director Banco Nacional de Mexico Actuario Roberto Medellin No. 800 5th Floor Col. Sante Fe, 01210 Mexico City, Mexico Ann Dibble Jordan USA Consultant Director 2940 Benton Place, NW Washington, DC 20008-2718 Dudley C. Mecum USA Managing Director Director Capricorn Holdings, LLC 30 East Elm Street Greenwich, CT 06830 Richard D. Parsons USA Chairman and Chief Executive Director Officer Time Warner Inc. 75 Rockefeller Plaza, 29th Floor New York, NY 10019 Andrall E. Pearson USA Founding Chairman Director Yum! Brands, Inc. 41 Meadow Wood Drive Greenwich, CT 06830 Charles Prince USA Chief Executive Officer Director and Executive Officer Citigroup Inc. 399 Park Avenue, 2nd Floor New York, NY 10022 Robert E. Rubin USA Member of the Office of the Director and Executive Officer Chairman Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 Franklin A. Thomas USA Consultant Director TFF Study Group 595 Madison Avenue, 33rd Floor New York, NY 10022 Sanford I. Weill USA Chairman of the Board Director and Executive Officer Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 Robert B. Willumstad USA President and Chief Director and Executive Officer Operating Officer Citigroup Inc. 399 Park Avenue, 2nd Floor New York, NY 10022 Arthur Zankel USA Senior Managing Member Director High Rise Capital Management, L.P. 535 Madison Avenue, 26th Floor New York, NY 10022 Sir Winfried F. W. Bischoff United Chairman Executive Officer Kingdom Citigroup Europe and 33 Canada Square Germany Canary Wharf London E14 5LB United Kingdom Michael A. Carpenter USA Chairman and Chief Executive Executive Officer Officer Citigroup Global Investments 399 Park Avenue, 3rd Floor New York, NY 10022 Robert Druskin USA Chief Executive Officer and Executive Officer President Citigroup Global Markets Holdings Inc., Citigroup Financial Products Inc. and Citigroup Global Markets Inc. 388 Greenwich Street, 39th Floor New York, NY 10013 Stanley Fischer USA Vice Chairman Executive Officer Citigroup Inc. 399 Park Avenue, 10th Floor New York, NY 10022 William P. Hannon USA Controller and Chief Executive Officer Accounting Officer Citigroup Inc.; Managing Director Citigroup Business Services 399 Park Avenue, 3rd Floor New York, NY 10022 Michael S. Helfer USA General Counsel and Executive Officer Corporate Secretary Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 Thomas W. Jones USA Chairman and Chief Executive Executive Officer Officer Global Investment Management and Private Banking Group 399 Park Avenue, 4th Floor New York, NY 10022 Sallie L. Krawcheck USA Chairman and Chief Executive Executive Officer Officer Smith Barney 388 Greenwich Street, 39th Floor New York, NY 10013 Marjorie Magner USA Chairman and Chief Executive Executive Officer Officer Global Consumer Group 399 Park Avenue, 2nd Floor New York, NY 10022 Michael T. Masin USA Vice Chairman and Chief Executive Officer Operating Officer Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 Sir Deryck C. Maughan United Vice Chairman Executive Officer Kingdom Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 Victor J. Menezes USA Senior Vice Chairman Executive Officer Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 William R. Rhodes USA Senior Vice Chairman Executive Officer Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 Todd S. Thomson USA Chief Financial Officer Executive Officer Citigroup Inc. 399 Park Avenue, 3rd Floor New York, NY 10022 EX-1 3 ug680857-ex1.txt STOCKHOLDER LETTER TO COMPANY EXHIBIT 1 Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. c/o Cadwalader, Wickersham & Taft LLP 100 Maiden Lane New York, NY 10038 October 17, 2003 BY FACSIMILE AND U.S. MAIL - -------------------------- Mr. Jacques Manardo Mr. John Risner Special Committee of Independent Directors UGC Europe, Inc. 4643 South Ulster Street, Suite 1300 Denver, CO 80237 Ladies and Gentlemen: The Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. ("UGC Europe" or the "Company") is comprised of the undersigned and a fourth large stockholder who own for their own account or on behalf of certain fiduciary clients an aggregate of approximately 7.8% of the Company's outstanding shares. The members of the Committee are disappointed by the exchange ratio and other issues relating to the value that is being offered by the Company's controlling stockholder, UnitedGlobalCom, Inc. ("United"), to acquire all outstanding shares of the Company that United and its subsidiaries do not already own. Among other things, the members of the Committee believe the exchange ratio of 9.0 shares of United's Class A common stock for each outstanding share of the Company's common stock is inadequate and below fair value. Members of the Committee have also been contacted by other large shareholders who have indicated an interest in joining the Committee and have expressed the same views as we do in this letter. Before determining to reject the exchange offer, members of the Committee are prepared to meet with you and your representatives, as well as representatives of the Company, United and Liberty Media Corporation, to discuss the exchange ratio and other issues relating to offer. Please contact our counsel, Dennis J. Block, Esq., at 212-504-5555 at your earliest convenience to arrange a meeting with members of the Committee. Very truly yours, Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. SALOMON BROTHERS ASSET MANAGEMENT INC. on behalf of certain fiduciary clients By: /s/ Robert M. Donahue, Jr. -------------------------- Name: Robert M. Donahue, Jr. Title: Managing Director PERRY CORP. as Managing General Partner of Perry Partners, L.P. By: /s/ Paul Leff ------------- Name: Paul Leff Title: Senior Managing Director PERRY CORP. as Investment Manager of Perry Partners International, Inc. By: /s/ Paul Leff ------------- Name: Paul Leff Title: Senior Managing Director PERRY CORP. as Investment Manager of Auda Classic, PLC By: /s/ Paul Leff ------------- Name: Paul Leff Title: Senior Managing Director EVEREST Capital Limited, as agent for certain managed accounts By: /s/ Malcolm Scott ----------------- Name: Malcolm Scott Title: Chief Operating Officer By: /s/ Simon Onabowale ------------------- Name: Simon Onabowale Title: Principal cc: Board of Directors UGC Europe, Inc. 4643 South Ulster Street, Suite 1300 Denver, CO 80237 Board of Directors UnitedGlobalCom, Inc. 4643 South Ulster Street, Suite 1300 Denver, CO 80237 Board of Directors Liberty Media Corporation 12300 Liberty Boulevard Englewood, CO 80112 EX-2 4 ug680857-ex2.txt PRESS RELEASE (10/19/2003) EXHIBIT 2 Contact: Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. c/o Dennis J. Block, Esq. Cadwalader, Wickersham and Taft LLP 100 Maiden Lane New York, NY 10038 (212)504-5555 STOCKHOLDERS DELIVER LETTER TO UGC EUROPE, INC. SPECIAL COMMITTEE New York, NY - October 19, 2003 - On October 17, 2003, several stockholders of UGC Europe, Inc. (NASDAQ: UGCE) sent the following letter to the Special Committee of Independent Directors of the Company: Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. c/o Cadwalader, Wickersham & Taft LLP 100 Maiden Lane New York, NY 10038 October 17, 2003 BY FACSIMILE AND U.S. MAIL - -------------------------- Mr. Jacques Manardo Mr. John Risner Special Committee of Independent Directors UGC Europe, Inc. 4643 South Ulster Street, Suite 1300 Denver, CO 80237 Ladies and Gentlemen: The Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. ("UGC Europe" or the "Company") is comprised of the undersigned and a fourth large stockholder who own for their own account or on behalf of certain fiduciary clients an aggregate of approximately 7.8% of the Company's outstanding shares. The members of the Committee are disappointed by the exchange ratio and other issues relating to the value that is being offered by the Company's controlling stockholder, UnitedGlobalCom, Inc. ("United"), to acquire all outstanding shares of the Company that United and its subsidiaries do not already own. Among other things, the members of the Committee believe the exchange ratio of 9.0 shares of United's Class A common stock for each outstanding share of the Company's common stock is inadequate and below fair value. Members of the Committee have also been contacted by other large shareholders who have indicated an interest in joining the Committee and have expressed the same views as we do in this letter. Before determining to reject the exchange offer, members of the Committee are prepared to meet with you and your representatives, as well as representatives of the Company, United and Liberty Media Corporation, to discuss the exchange ratio and other issues relating to offer. Please contact our counsel, Dennis J. Block, Esq., at 212-504-5555 at your earliest convenience to arrange a meeting with members of the Committee. Very truly yours, Committee to Obtain Fair Value for Minority Stockholders of UGC Europe, Inc. SALOMON BROTHERS ASSET MANAGEMENT INC. on behalf of certain fiduciary clients By: /s/ ------------------------------- PERRY CORP. as Managing General Partner of Perry Partners, L.P. By: /s/ ------------------------------- PERRY CORP. as Investment Manager of Perry Partners International, Inc. By: /s/ ------------------------------- PERRY CORP. as Investment Manager of Auda Classic, PLC By: /s/ ------------------------------- EVEREST Capital Limited, as agent for certain managed accounts By: /s/ ------------------------------- By: /s/ ------------------------------- cc: Board of Directors UGC Europe, Inc. 4643 South Ulster Street, Suite 1300 Denver, CO 80237 Board of Directors UnitedGlobalCom, Inc. 4643 South Ulster Street, Suite 1300 Denver, CO 80237 Board of Directors Liberty Media Corporation 12300 Liberty Boulevard Englewood, CO 80112 EX-3 5 ug680857-ex3.txt JOINT FILING AGREEMENT (10/27/2003) EXHIBIT 3 JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1) --------------------------------------------------- This agreement is made pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the "Act") by and among the parties listed below, each referred to herein as a "Joint Filer." The Joint Filers agree that a statement of beneficial ownership as required by Section 13(d) of the Act and the Rules thereunder may be filed on each of their behalf on Schedule 13D or Schedule 13G, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1. Dated: October 27, 2003 SALOMON BROTHERS ASSET MANAGEMENT INC, on behalf of certain fiduciary clients By: /s/Robert M. Donahue, Jr. ------------------------- Name: Robert M. Donahue, Jr. Title: Managing Director CITIGROUP FINANCIAL PRODUCTS INC (f/k/a Salomon Brothers Holding Company Inc) By: /s/ Serena D. Moe ----------------- Name: Serena D. Moe Title: Assistant Secretary CITIGROUP GLOBAL MARKETS HOLDINGS INC. (f/k/a Salomon Smith Barney Holdings Inc.) By: /s/ Serena D. Moe ----------------- Name: Serena D. Moe Title: Assistant Secretary CITIGROUP INC. By: /s/ Serena D. Moe ----------------- Name: Serena D. Moe Title: Assistant Secretary PERRY CORP., as Managing General Partner of Perry Partners, L.P. By: /s/ Paul Leff ------------- Name: Paul Leff Title: Senior Managing Director PERRY CORP., as Investment Manager of Perry Partners International, Inc. By: /s/ Paul Leff ------------- Name: Paul Leff Title: Senior Managing Director PERRY CORP., as Investment Manager of Auda Classic, PLC By: /s/ Paul Leff ------------- Name: Paul Leff Title: Senior Managing Director By: /s/ Richard C. Perry -------------------- Name: Richard C. Perry EVEREST CAPITAL LIMITED, as agent for certain managed accounts By: /s/ Malcolm Stott ----------------- Name: Malcolm Stott Title: Chief Operating Officer By: /s/ Edward A. Mule ------------------ Name: Edward A. Mule, individually and (a) as partner of Silver Point Partners, for itself and as managing member of Silver Point Capital Holdings, LLC, for itself and as managing member of Silver Point Capital General Partner, LLC, for itself and as general partner of Silver Point Capital Fund, L.P.; and (b) as managing member of Silver Point Capital Management, LLC, for itself and as the general partner of Silver Point Capital Management, L.P., for itself and as the general partners of Silver Point Capital, L.P. By: /s/ Robert O'Shea ----------------- Name: Robert O'Shea -----END PRIVACY-ENHANCED MESSAGE-----