Altice USA pays USD150m for co-owners’ shares

1 Mar 2019

Altice USA – the holding company that controls US cablecos Suddenlink and Cablevision (Optimum) – has acquired a portion of Class A shares belonging to its co-investors, funds advised by BC Partners (BCP) and the Canada Pension Plan Investment Board (CPPIB).

The funds elected to sell 34 million Altice USA Class A shares, representing approximately one third of their combined stake in the company. Consistent with Altice USA’s share repurchase programme and guidance for repurchases during 2019, Altice elected to purchase approximately seven million of these shares for a total consideration of USD150 million.

Following these transactions, BCP and CPPIB together own approximately 10.5% of Altice USA; Altice’s revised shareholding has not been disclosed.

United States, Altice USA (incl. Optimum, Suddenlink), Cablevision Systems (Optimum), Suddenlink Communications