CPPIB, BC Partners Agree to Buy $1B Stake in Cablevision
October 28, 2015
Canada Pension Plan Investment Board and BC Partners have entered into a definitive agreement to acquire 30% of the equity in Cablevision Systems (NYSE: CVC) for approximately $1 billion. With the purchase, Altice's (ATC: NA) acquisition of the U.S. cable provider is fully funded. Altice, which had already raised approximately $1.6 billion in equity for the transaction, in addition to issuing around $8.6 billion in new Cablevision debt, expects the deal to now close in 1H 2016. The total transaction price is $17.7 billion.