Liberty Latin America has acquired the 40% stake in Liberty Cablevision of Puerto Rico (Liberty Puerto Rico) that it does not own from funds affiliated with Searchlight Capital Partners. The stake was exchanged for 9.5 million Liberty Latin America Class C (‘LILAK’) shares. Following the acquisition, Liberty Latin America now owns 100% of Liberty Cablevision of Puerto Rico.
Eric Zinterhofer, a founding partner at Searchlight, commented: ‘I want to thank CEO Naji Khoury and the entire team at Liberty Puerto Rico for their dedication in transforming the company from a regional cable operator to the island-wide provider of market-leading broadband, pay-TV and voice services in Puerto Rico. We are proud of the team’s tireless effort and leadership in rebuilding Liberty Puerto Rico’s network after Hurricane Maria devastated the island.’