Rogers reveals buyer, structure of $7B deal for stake in its network infrastructure
Rogers will maintain full operational control for its entire national wireless network under the agreement
Rogers Communications Inc. has revealed that a group led by United States investment management company Blackstone Inc. is the buyer in its proposed $7 billion sale of a minority stake in a portion of its wireless network infrastructure.
tap here to see other videos from our team.
Rogers reveals buyer, structure of $7B deal for stake in its network infrastructure Back to video
tap here to see other videos from our team.
The transaction, which Rogers originally announced in October, also includes investors such as the Canada Pension Plan Investment Board, Caisse de depot et placement du Quebec, the Public Sector Pension Investment Board and British Columbia Investment Management Corp.
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
The deal is structured so that Blackstone will hold a 49.9 per cent interest in a new subsidiary that will own the infrastructure which transports data from Rogers’ cell towers to its core network, while Rogers will hold a 50.1 per cent equity interest.
The deal is expected to close during the second quarter of this year.
Rogers, which intends to use funds from the transaction to repay debt, would have the right to purchase Blackstone’s interest in the subsidiary between 2033 and 2037.
Rogers will maintain full operational control for its entire national wireless network under the agreement, which does not include its cell towers or spectrum holdings.
