Suddenlink Seals $6.6B Sale

BC Partners, CPP Investment Board and management complete acquisition of Suddenlink for $6.6B

November 20, 2012

1 Min Read

ST. LOUIS -- Cequel Communications Holdings, LLC, which does business as Suddenlink Communications ("Suddenlink" or "the Company"), announced today that BC Partners and CPP Investment Board ("CPPIB"), in partnership with Suddenlink's management team, led by Chairman and CEO Jerry Kent, have completed the previously announced purchase of the Company for $6.6 billion.

Suddenlink's enterprise value of $6.6 billion includes $1.985 billion of total equity invested by BC Partners, CPPIB, and certain members of Suddenlink management, plus incremental debt of $500 million and assumption of existing net liabilities. Proceeds were used to acquire the ownership stake of all holders of Suddenlink's preferred and common equity, led by Goldman Sachs Capital Partners and including Quadrangle, Oaktree Capital Management, and The Jordan Company.

"The timely closing of this acquisition marks a new and exciting chapter in our company's history," said Suddenlink's Chairman and CEO Jerry Kent. "With fresh, forward-looking capital, new investors, and a talented team of over 6,000 people, we are in a great position to continue serving our customers with excellence and delivering strong operating results."

Suddenlink Communications

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