Blackstone closes in on $7 billion investment deal with Rogers
The transaction will help keep Rogers’ debt load under control
Blackstone Inc. is close to a $7 billion agreement to buy a minority stake in parts of Rogers Communications Inc.’s wireless infrastructure, according to a person familiar with the matter.
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The structured-equity transaction will help keep Rogers’ debt load under control as it seeks to buy a 37.5 per cent stake in Maple Leaf Sports & Entertainment Ltd. from BCE Inc.
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Tony Staffieri, Rogers’ chief executive, said earlier this month that selling a stake in parts of its wireless backhaul infrastructure will help the company pay down debt while retaining full operational control of its network. He described the deal as “first-of-its kind” in Canada, signed with a leading global financial investor.
Representatives of both Blackstone and Rogers declined to comment. The identity of the investor was first reported by the Globe and Mail.
Bloomberg.com
