The deal, initially announced in April, sees Blackstone and institutional partners take a 49.9% equity stake ' representing 20% of voting rights ' in the unit holding Rogers' internet and wireless assets. Rogers retains a 51.1% ownership stake and 80% voting control. The Canadian telecoms giant has the option to repurchase Blackstone's interest after eight years. The Blackstone-led investor group includes the Canada Pension Plan Investment Board (CPPIB), Caisse de depot et placement du Quebec (CDPQ), the Public Sector Pension Investment Board (PSP), British Columbia Investment Management Corporation (BCI), and the Investment Management Corporation of Ontario (IMCO). 'This transaction demonstrates the confidence investors have in Rogers and our world-class assets,' said Tony Staffieri, CEO of Rogers Communications. 'With this significant investment, we are unlocking the unrecognised value of critical assets and executing on our commitment to de-lever our balance sheet.' Subscribe to...
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