CPPIB and BC Partners to Acquire $1B Stake in Cablevision
October 06, 2015
Canada Pension Plan Investment Board and BC Partners are reportedly in talks to acquire a stake valued at over $1 billion in Cablevision Systems. Altice had agreed to buy the U.S. cable provider in a $17.7 billion deal last month and as part of the deal, CPPIB and BC Partners acquired an option to purchase up to 30% of Cablevision's equity. Altice has already raised approximately €1.6 billion in equity for the deal by selling new shares, and has issued around $8.6 billion in new Cablevision debt to support the takeover.