Altice : BCP And CPPIB To Buy 30% Stake In Cablevision For About $1.0 Bln

(RTTNews) - European telecommunications group Altice N.V. (ATCV.OB) announced that funds advised by BC Partners or "BCP" and Canada Pension Plan Investment Board or "CPPIB" have entered into a definitive agreement to acquire 30% of the equity of Cablevision Systems Corp. (CVC) for about $1.0 billion.

The 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.

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

In September 2015, Altice S.A. agreed to buy U.S. telecommunications and media company Cablevision Systems Corp. for $34.90 per share in an all-cash deal valued about $17.7 billion, including debt.