Rogers Communications To Sell All Subordinate Voting Cogeco Shares For $829 Mln In Cash

(RTTNews) - Rogers Communications Inc. (RCI), a Canadian telecom company, said that it has agreed to sell all of its subordinate voting shares in Cogeco Inc. (CGO.TO) and Cogeco Communications Inc. (CCA.TO) to Caisse de depot et placement du Quebec, for around $829 million in cash.

The shares will be sold at a price of $46.91 per subordinate voting share of CGO, and $51.40 per subordinate voting share of CCA.

RCI now owns 5,969,390 subordinate voting shares of CGO and 10,687,925 subordinate voting shares of CCA, representing around 42.6 percent of CGO subordinate voting shares, and approximately 37.1 percent of the CCA subordinate voting shares, respectively.

Monday, RCI stock had closed at $45.44, down 0.07 percent on the New York Stock Exchange.