ST. LOUIS -- The company that runs the Suddenlink Communications cable provider has agreed to sell itself to its management and other investors who will invest about $2 billion in the company.
Investors BC Partners and the Canada pension plan's CPP Investment Board are joining with Suddenlink managers including Chairman and CEO Jerry Kent in the deal to buy Cequel Communications Holdings L.L.C.
Cequel's previous ownership group included Goldman Sachs Capital Partners, Quadrangle and Oaktree Capital Management. The deal values the company at $6.6 billion, including debt.
Suddenlink is the seventh-largest cable system operator in the U.S. and mainly serves Texas, West Virginia, North Carolina, Oklahoma, Arkansas and Louisiana. It has more than 1.4 million customers.
The deal is expected to close in the fourth quarter and is subject to regulatory approval.
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.