Seyfarth Shaw LLP advised Puerto Rico Cable Acquisition Co., which does business as Choice Cable TV, in its sale to Liberty Global plc and Searchlight Capital Partners LP. The deal was valued at US $272.5 million.
Choice Cable TV currently ranks as the second-largest cable and broadband service provider in Puerto Rico with exposure to more than 345,000 homes. The resulting combination of Choice Cable TV and Liberty Cablevision of Puerto Rico LLC (“LCPR”), Liberty Global’ s current cable offering in Puerto Rico, will be able to reach 80 percent of Puerto Rican homes and thus be the largest cable operator on the island.The joint business will be 60 percent owned by Liberty and 40 percent owned by Searchlight.The deal is expected to close in the first half of 2015.
The Seyfarth deal team was led by New York partners Stanley Bloch, Andrew Lucano, Don Lepore and New York associate Michelle Griswold.
Source: www.seyfarth.com
