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BRIEF-Cogeco says Atlantic Broadband to buy Metrocast Cable Systems

Published 2017-07-10, 08:07 a/m
© Reuters.  BRIEF-Cogeco says Atlantic Broadband to buy Metrocast Cable Systems
CCA
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July 10 (Reuters) - Cogeco Communications Inc CCA.TO

* Cogeco Communications Inc - substantially all of assets of Metrocast will be purchased for $1.4 billion

* Cogeco Communications Inc - Atlantic Broadband expects to realize tax benefits with a present value of approximately $310 million

* Cogeco Communications Inc says CDPQ has committed a $315 million equity investment for a 21 pct interest in Atlantic Broadband's holding company

* Cogeco Communications - to finance acquisition through Atlantic Broadband subsidiary with a combination of committed secured debt, equity investment

* Cogeco Communications Inc - Atlantic Broadband's primary service units (PSU) will increase from approximately 602,000 to 835,000 pro forma acquisition

* Cogeco Communications Inc - calendar 2017 revenue is expected to be $230 million and adjusted EBITDA is projected to be $121 million Source text for Eikon: ID:nCCNPbzWCa Further company coverage: CCA.TO

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