Altice USA Statement on Transactions by BC Partners and Canada Pension Plan Investment Board
NEW YORK--(BUSINESS WIRE)-- Altice USA (NYSE:ATUS) today makes the following statement following the sale of a portion of Altice USA shares by funds advised by BC Partners and Canada Pension Plan Investment Board:
After the market closed yesterday, funds advised by BC Partners (BCP) and Canada Pension Plan Investment Board (CPPIB) elected to sell 25 million Altice USA Class A shares, representing approximately one third of their stake in the company. Consistent with Altice USA’s share repurchase program and guidance for repurchases during 2019, the company elected to purchase approximately 6 million of these shares for a total consideration of approximately $150 million. Following these transactions, BCP and CPPIB together own approximately 7.4% of Altice USA.
About Altice USA
Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, telephony services, proprietary content and advertising services to approximately 4.9 million Residential and Business customers across 21 states through its Optimum and Suddenlink brands.
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Source: Altice USA
Released June 7, 2019