CPP Investment Board (CPPIB) and private equity firm BC Partners have been given the option to purchase a stake in Cablevision.
On Thursday, the American cable provider to be acquired by Netherlands-based multinational cable and telecommunications company Altice for US$17.7 billion.
“BC Partners and CPP Investment Board have an option to participate for up to 30% of the equity of Cablevision,” says a statement from Altice. It didn’t provide any further details.
Read: CPPIB to sell portion of U.S. cable company
Earlier this year, Altice agreed to purchase a majority stake in cable company Suddenlink from CPPIB and BC Partners.
The Cablevision transaction is expected to close in the first half of 2016 once applicable regulatory approvals have been obtained.
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