MONTRÉAL, Dec. 11,
2023 /CNW/ - CDPQ announces an investment in Cogeco
Communications Inc. (TSX: CCA) following the purchase of the
block of shares held by Rogers Communications Inc.
(TSX: RCI.B). CDPQ will hold $350 million of the capital
of this Québec leader, one of the top 10 cable companies in
North America, upon the closing of
this transaction, which was announced earlier today.
"Already active with Cogeco Communications through past
acquisitions, CDPQ is supporting the growth projects of this
leading telecommunications company as connectivity needs continue
to grow. This major share purchase, orchestrated by CDPQ, is key
for the company and its plan to develop the North American market,"
said Kim Thomassin, Executive Vice-President and Head of
Québec at CDPQ.
"We're delighted by an even stronger engagement by the CDPQ,"
said Philippe Jetté, President and Chief Executive Officer of
Cogeco Inc. and Cogeco Communications Inc. "This transaction is a
unique opportunity for us to build shareholder value while pursuing
the delivery of our strategic plan," added Mr. Jetté.
Cogeco is a growing competitive force in today's
telecommunications sector. Through its business units, Cogeco
Connexion in Canada and Breezeline
in the U.S., it provides Internet, video and telephone services in
Québec, Ontario and 13
U.S. states.
CDPQ first invested in Cogeco Communications in 2013 by
providing a CAD 50 million loan. In 2017, CDPQ also
contributed USD 315 million toward the transaction to acquire
MetroCast cable systems in the United States. At USD 1.4 billion, this transaction is
Cogeco Communications' largest acquisition to date.
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable
returns over the long term. As a global investment group managing
funds for public pension and insurance plans, we work alongside our
partners to build enterprises that drive performance and progress.
We are active in the major financial markets, private equity,
infrastructure, real estate and private debt. As at June 30, 2023, CDPQ's net assets totalled
CAD 424 billion. For more information, visit cdpq.com, consult
our LinkedIn or Instagram pages, or follow us on X.
|
CDPQ is a registered
trademark owned by Caisse de dépôt et placement du Québec and
licensed for use by its subsidiaries.
|
ABOUT COGECO COMMUNICATIONS
INC.
Rooted in the communities it serves, Cogeco Communications Inc.
is a growing competitive force in the North American
telecommunications sector, serving 1.6 million residential and
business customers. Through its business units Cogeco Connexion and
Breezeline, Cogeco Communications provides Internet, video and
phone services in Canada as well
as in thirteen states in the United
States. Cogeco Communications Inc.'s subordinate voting
shares are listed on the Toronto Stock Exchange
(TSX: CCA).
For more information
MEDIA RELATIONS TEAM
CDPQ
+ 1 514 847-5493
medias@cdpq.com
YOUANN BLOUIN
Director, Media Relations & Strategic Communications
Cogeco Communications Inc.
+1 514 297-2853
youann.blouin@cogeco.com
SOURCE CDPQ
