Paris - Mayer Brown announced today that it represented Altice N.V. on its definitive agreement with BC Partners (BCP) and Canada Pension Plan Investment Board (CPPIB) to acquire 30% of the equity of Cablevision Systems Corporation (CVC) (for approximately $1 billion). This agreement follows the September 17 announcement of the acquisition of CVC by Altice.
The shareholders’ agreement between Altice, BCP and CPPIB is on terms similar to the transaction announced in May 2015. Together with the recent CVC debt financing and the Altice equity issuance, the acquisition is fully funded. The acquisition of CVC is expected to close in the first half of 2016 once applicable regulatory approvals have been obtained.
Lawyers in Mayer Brown’s Tax Transactions & Consulting practice advised Altice on the structuring of the transaction. The team was led by partner Laurent Borey (Paris) and included:
- Paris: Olivier Parawan, partner and Nathalie Jacquart, associate;
- New York: Jason Bazar, partner and Maurice Worsley and Lucas Giardelli, associates;
- Chicago: Lee Morlock, partner.