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ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

Sector
Telecoms
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.02bn
Position in Universe th / 6853

BRIEF-Altice To Sell 49.99% Of Lightpath Fiber Enterprise Business To Morgan Stanley Infrastructure Partners

Tue 28th July, 2020 11:48pm
July 28 (Reuters) - Altice USA Inc  ATUS.N :
    * PRESS RELEASE - ALTICE USA ANNOUNCES AGREEMENT TO SELL
49.99% OF
LIGHTPATH FIBER ENTERPRISE BUSINESS TO MORGAN STANLEY
INFRASTRUCTURE PARTNERS
    * ALTICE USA INC - DEAL FOR AN IMPLIED ENTERPRISE VALUE OF
$3.2
BILLION
    * ALTICE USA INC - WILL RECEIVE TOTAL GROSS CASH PROCEEDS OF
APPROXIMATELY $2.3 BILLION FROM SALE AND RELATED FINANCING
ACTIVITY
    * ALTICE USA INC - ALTICE USA WILL RETAIN A 50.01% INTEREST
IN
LIGHTPATH AND MAINTAIN CONTROL OF COMPANY
    * ALTICE USA - PORTION OF NET PROCEEDS AFTER TAX EXPECTED TO
BE
USED BY CO TO REPAY DEBT SUCH THAT DEAL IS AT LEAST
LEVERAGE-NEUTRAL TO CSC HOLDINGS, LLC
    * ALTICE USA INC - REMAINING PROCEEDS OF DEAL MAY BE USED
FOR
ADDITIONAL DEBT PAYDOWN AND/OR REPURCHASE OF ALTICE USA SHARES
    * ALTICE USA INC - UPON DEAL CLOSING, LIGHTPATH WILL BE
FINANCED
INDEPENDENTLY OUTSIDE OF CSC HOLDINGS, LLC DEBT SILO

Source text for Eikon:  ID:nBwbCdsH5a 
Further company coverage:  ATUS.N 

 ((Reuters Messaging: Reuters.Briefs@thomsonreuters.com))
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