Ropes & Gray Represents Altice on Financing of Cablevision Acquisition
Ropes & Gray advised Altice N.V. on the financing commitments in connection with the proposed acquisition by Altice of Cablevision Systems Corporation (Cablevision) which was announced Sept. 17. Under the agreement, Altice will deliver $34.90 in cash for each Cablevision share outstanding.
The London-based Ropes & Gray team was led by finance partner Michael Kazakevich.
“As is always the case with Altice, the deal was moving at breakneck speed, and we were thrilled to assist this long-standing client in arranging financing commitments for the acquisition of Cablevision. This is an exciting time for Altice, and we look forward to helping them fulfill their long-term strategic vision," said Mr. Kazakevich.
The acquisition of Cablevision represents Altice's next step in the U.S. market following the announced acquisition of Suddenlink earlier this year. Together, both operators represent the fourth largest cable operation in the U.S. market.
Dennis Okhuijsen, chief financial officer of Altice, said, “We are an entrepreneurial company that moves quickly to capitalise on opportunities that present themselves. We expect our advisors to be as creative, nimble and dedicated as we are. We have come to rely on Ropes & Gray for timely advice on complex high yield financings in the U.S and Europe.”
Mike Goetz, managing partner of the Ropes & Gray London office, said, “We continue to work with market-leading clients who demand the highest quality work for their complex business deals. We are proud to work with Altice and continue to strive for excellence on its behalf.”
Along with Ropes & Gray, Shearman & Sterling, Covington & Burling, Mayer Brown, and De Brauw Blackstone Westbroek N.V acted as legal advisors to Altice. JP Morgan, BNP Paribas and Barclays acted as financial advisors to Altice.