U.K. private equity firm BC Partners (BCP) and Canada Pension Plan Investment Board (CPPIB) have sold about one-third of their stake in Altice USA Inc (NYSE: ATUS), a New York-based broadband communications and video services provider.
Altice USA purchased about 7 million of the Class A shares sold for US$150 million.
Following these transactions, BCP and CPPIB together own about 10.5 percent of the company.
Altice USA Statement on Transactions by BC Partners and Canada Pension Plan Investment Board
February 28, 2019
NEW YORK–(BUSINESS WIRE)–Altice USA (NYSE:ATUS) today makes the following statement following the sale of a portion of Altice USA shares by funds advised by BC Partners and Canada Pension Plan Investment Board:
After the market closed today, funds advised by BC Partners (BCP) and Canada Pension Plan Investment Board (CPPIB) elected to sell 34 million Altice USA Class A shares, representing approximately one third of their stake in the company. Consistent with Altice USA’s share repurchase program and guidance for repurchases during 2019, the company elected to purchase approximately 7 million of these shares for a total consideration of $150 million. Following these transactions, BCP and CPPIB together own approximately 10.5% of Altice USA.
About Altice USA
Altice USA (NYSE:ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, telephony services, proprietary content and advertising services to approximately 4.9 million Residential and Business customers across 21 states through its Optimum and Suddenlink brands.
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