Bell did not require Rogers to prearrange payment for the purchase of its stake in Maple Leaf Sports & Entertainment in a structure that is relatively common in large acquisitions
Maple Leaf Sports and Entertainment headquarters in Toronto on Sept. 18. Rogers Communications Inc . has agreed to acquire Bell ’s 37.5-per-cent stake in MLSE for $4.7-billion.stake in Maple Leaf Sports & Entertainment with no financial backing from private investors or lenders, a “trust me” approach that will save millions in banking fees on its $4.7-billion acquisition.
Rogers did not disclose specifics on how it will fund the MLSE purchase, but did say the transaction will not affect the company’s debt leverage. Rogers also said outside investors – wealthy individuals and institutions – are expected to be part of the final financing package. In a report, analyst Tim Casey at BMO Capital Markets said: “Our initial assumption is that the private investors will acquire an economic interest but cede voting control to Rogers.
In December, Rogers sold its stake in Cogeco to the Caisse de dépôt et placement du Québec for $829-million and used the money to pay down loans, lowering its debt-to-EBITDA ratio 4.7 times.
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Rogers Communications to buy out Bell's share of MLSE for $4.7 billionRogers Communications Inc. is buying out Bell’s 37.5 per cent share of Maple Leaf Sports & Entertainment for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate.
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Rogers Communications to buy out Bell's share of MLSE for $4.7 billionTORONTO — Rogers Communications Inc. is buying out Bell's 37.5 per cent share of Maple Leaf Sports & Entertainment for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate.
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Rogers Communications to buy out Bell's share of MLSE for $4.7 billionRogers Communications Inc. is buying out Bell's 37.5 per cent share of Maple Leaf Sports & Entertainment for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate.
Read more »
Rogers Communications to buy out Bell's share of MLSE for $4.7 billionTORONTO — Rogers Communications Inc. is buying out Bell's 37.5 per cent share of Maple Leaf Sports & Entertainment for C$4.7 billion, giving it 75 per cent...
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Rogers Communications to buy out Bell's share of MLSE for $4.7 billionTORONTO — Rogers Communications Inc. is buying out Bell's 37.5 per cent share of Maple Leaf Sports & Entertainment for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate.
Read more »
Rogers Communications to buy out Bell's share of MLSE for $4.7 billionTORONTO — Rogers Communications Inc. is buying out Bell's 37.5 per cent share of Maple Leaf Sports & Entertainment for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate.
Read more »