Liberty Wraps Up OneLink Purchase
ENGLEWOOD, Colo. -- Liberty Global, Inc. (“Liberty Global” or “LGI”) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that, following regulatory approval, it has consummated the previously announced agreement with investment funds affiliated with Searchlight Capital Partners, L.P. (collectively, “Searchlight”). Pursuant to this agreement, a subsidiary of LGI contributed its 100% interest in Liberty Cablevision of Puerto Rico LLC (“Liberty Puerto Rico”), and Searchlight contributed cash, to Leo Cable LP, an entity that, in turn, used the Searchlight cash to acquire 100% of the equity of San Juan Cable, LLC, doing business as OneLink Communications (“OneLink”).
Leo Cable LP is ultimately 60%-owned by LGI and 40%-owned by Searchlight. LGI will have a controlling financial interest in, and will consolidate, Leo Cable LP. The newly formed entity represents the largest cable operator on the island with homes passed of approximately 700,000 and revenue generating units (RGUs)1 approaching 500,000. LionTree Advisors and Scotiabank acted as financial advisors to Leo Cable LP and certain of its affiliates in this transaction.
Liberty Global Inc. (Nasdaq: LBTY)