CPE Media News (5/6/2020) – Canada Pension Plan Investment Board (CPP Investments) has sold 11.2 million Altice USA (NYSE: ATUS) Class A shares to a broker-dealer, representing substantially all of its remaining stake in the company.
Altice USA through its share repurchase program purchased approximately 2.2 million of these shares directly from the broker-dealer for a total consideration of approximately US $52 million.
On June 8, 2018, Altice USA and Altice Europe (formerly known as Altice N.V.) implemented the separation of Altice USA and Altice Europe. CPP Investments received Altice USA shares as part of the separation.
CPP Investments acquired Altice shares as part of sale of Suddenlink to Altice and part of funding investment backing Altice’s acquisition of Cablevision Systems Corporation.
Altice USA is controlled by Next Alt S.à.r.l., an entity controlled by Patrick Drahi. Other Altice USA shareholders include The Goldman Sachs Group, The Vanguard Group Inc., and Soroban Capital Partners LP.
Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to more than 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands.
photo credit: Altice USA
News Release
Altice USA Statement on Transaction by Canada Pension Plan Investment Board
May 05, 2020 09:10 PM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–Altice USA (NYSE: ATUS) today makes the following statement following the sale of a portion of Altice USA shares by Canada Pension Plan Investment Board (CPP Investments):
After the market closed today, CPP Investments elected to sell 11.2 million Altice USA Class A shares to a broker dealer pursuant to Rule 144, representing substantially all of their remaining stake in the company. Consistent with Altice USA’s share repurchase program, the company elected to purchase approximately 2.2 million of these shares directly from the broker dealer, for a total consideration of approximately $52 million.
About Altice USA
Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to more than 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands. The company operates a4, an advanced advertising and data business, which provides audience- based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar and i24NEWS networks.
Contacts
For Investors
Nick Brown: +1 917 589 9983 / nick.brown@alticeusa.com
Cathy Yao +1 347 668 8001 / cathy.yao@alticeusa.com
For Media
Lisa Anselmo: +1 929 418 4362 / lisa.anselmo@alticeusa.com