Mergers and Acquisitions

Caisse de dépôt et placement du Québec, in its equity investment in Atlantic Broadband, a subsidiary of Cogeco Communications Inc., in relation to the acquisition of the MetroCast cable systems

Caisse de dépôt et placement du Québec
Key Contact
Niko Veilleux

Partner, Corporate, Montréal

Team
Hugo-Pierre Gagnon

Partner, Corporate, Montréal

On July 10, 2017, Cogeco Communications Inc. (TSX: CCA), a Montréal-based communications corporation, announced that its subsidiary, Atlantic Broadband, had entered into a definitive agreement with Harron Communications LP to purchase all of its cable systems operating under the MetroCast brand name in a deal valued at US$1.4 billion. This transaction closed on January 4, 2018.

Caisse de dépôt et placement du Québec (“CDPQ”) has made a US$315 million equity investment for a 21% interest in Atlantic Broadband’s holding company, while the remaining balance of the purchase price and transaction costs were financed through a committed secured debt financing provided by two banks.

Osler, Hoskin & Harcourt LLP is representing CDPQ on the transaction, led by Niko Veilleux, with a team of lawyers that includes Hugo‑Pierre Gagnon, Chloe Cavaliere, Alix Morse and Marisa Corona (Corporate); and Paul Seraganian (Tax).

Value
US$1.4 billion
Date Closed
January 4, 2018
Lead Office
Montréal
Key Contact
Niko Veilleux

Partner, Corporate, Montréal

Team
Hugo-Pierre Gagnon

Partner, Corporate, Montréal