Industry Press Releases

BC Partners and Canada Pension Plan Investment Board to acquire 30% of Cablevision alongside Altice N.V.

Thursday, Oct 29, 2015
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Altice N.V. announced that funds advised by BC Partners (“BCP”) and Canada Pension Plan Investment Board (“CPPIB”) have entered into a definitive agreement to acquire 30% of the equity of Cablevision Systems Corporation (NYSE: CVC) (for approximately $1.0 billion). This definitive agreement follows the announcement on September 17, 2015 of the acquisition of CVC by Altice. The Shareholder’s Agreement between Altice, BCP and CPPIB is on similar terms as the Suddenlink transaction announced in May 2015.

Together with the recent Cablevision debt financing and the Altice equity issuance, the acquisition of Cablevision is fully funded.

The acquisition of Cablevision is expected to close in the first half of 2016 once applicable regulatory approvals have been obtained.

Dexter Goei, CEO of Altice, declared: “We are extremely pleased that BC Partners and CPPIB – our future partners in Suddenlink – have also agreed to invest alongside us in Cablevision and to continue to accompany Altice in its long-term oriented growth and investment strategy in the US.”

“This is an attractive opportunity to invest in a sector that we know well,” said Shane Feeney, Managing Director, Head of Direct Private Equity, CPPIB. “We are pleased to further expand our relationship with Altice, a best-in-class cable operator, and BC Partners, a longstanding fund partner.”

Raymond Svider, co-Chairman and a Managing Partner of BC Partners, added “We are delighted to continue to invest in partnership with Altice and CPPIB, and are highly confident in Altice’s ability to further enhance network quality, increase customer satisfaction, and meaningfully improve financial performance at Cablevision.”

Contacts

Investor Relations
Olivier Gernandt: +33 1 85 06 10 75 / olivier.gernandt@altice.net

Media Relations
Arthur Dreyfuss: +41 79 946 49 31 / arthur.dreyfuss@altice.net

About Altice

Founded by telecom entrepreneur, Patrick Drahi, Altice is a multinational cable, fiber, telecommunications, contents and media company with presence in three regions - Western Europe (comprising France, Belgium, Luxembourg, Portugal and Switzerland), Israel and the Overseas Territories (currently comprising the French Caribbean and the Indian Ocean regions and the Dominican Republic). We provide very high speed based services (high quality pay television, fast broadband Internet and fixed line telephony) and, in certain countries, mobile telephony services to residential and corporate customers.

Disclaimer

This press release contains statements about future events, projections, forecasts and expectations that are forward-looking statements. Any statement in this press release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, past performance of Altice S.A. and its affiliates cannot be relied on as a guide to future performance. Altice NV and its affiliates make no representation on the accuracy and completeness of any of the forward-looking statements, and, except as may be required by applicable law, assume no obligations to supplement, amend, update or revise any such statements or any opinion expressed to reflect actual results, changes in assumptions or in Altice NV's or its affiliates expectations, or changes in factors affecting these statements. Accordingly, any reliance you place on such forward-looking statements will be at your sole risk.

 

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