Rogers Accelerates De-Leveraging Plans With Private Sale of Cogeco Shares
12 Dezember 2023 - 1:00PM
On December 11, 2023, Rogers Communications Inc. (TSX: RCI.A and
RCI.B) (NYSE: RCI) (“RCI”) agreed to sell all of the subordinate
voting shares (“SVS”) of Cogeco Inc. (“CGO”) and of Cogeco
Communications Inc. (“CCA”) owned by it to Caisse de dépôt et
placement du Québec (“CDPQ”) in a private transaction for an
aggregate purchase price of approximately $829 million.
The shares will be sold for cash at a price of $46.91 per SVS of
CGO and $51.40 per SVS of CCA pursuant to a share purchase
agreement between RCI and CDPQ. Immediately prior to the sale, RCI
will own 5,969,390 SVS of CGO and 10,687,925 SVS of CCA,
representing approximately 42.6% of the outstanding CGO SVS and
approximately 37.1% of the outstanding CCA SVS, respectively.
Following the sale, RCI will own no SVS of CGO or CCA.
Early warning reports for each of the above sales will be filed
under the profiles of CGO and CCA, respectively, on SEDAR+ at
www.sedarplus.ca and may also be obtained by contacting the person
named below. RCI’s address is 333 Bloor Street East, 10th Floor,
Toronto, Ontario, M4W 1G9. The head office of each of CGO and CCA
is located at 1 Place Ville Marie, Suite 3301, Montréal, Québec,
H3B 3N2.
About Rogers Communications Inc.Rogers is
Canada’s leading wireless, cable and media company that provides
connectivity and entertainment to Canadian consumers and businesses
across the country. RCI’s shares are publicly traded on the Toronto
Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock
Exchange (NYSE: RCI).
For more information:
Rogers Communications media contactSarah
Schmidt647.643.6397media@rci.rogers.com
Rogers Communications investment community
contactPaul
Carpino647.435.6470paul.carpino@rci.rogers.com
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