London - Paul Hastings LLP, a leading global firm, has announced that it advised JP Morgan and BNP Paribas in connection with the financing of Euronext-listed multinational cable and telecommunications company Altice’s $9.1 billion Suddenlink acquisition.
Suddenlink is the 7th largest US cable operator with 1.5 million residential and 90,000 business customers. The acquisition will see Altice acquire 70% of Suddenlink's shares from existing shareholders BC Partners, CPP Investment Board and Suddenlink management, making its first foray into the US cable market. BC Partners and CPP Investment Board will retain a 30% stake in the company. The Paul Hastings team represented JP Morgan and BNP Paribas in connection with the $6.7 billion of new and existing credit facilities and high yield debt used to fund the acquisition, which is expected to close in the fourth quarter of 2015, subject to regulatory approvals.
The Paul Hastings team included a team of lawyers from the London and New York offices. The Paul Hastings London office team included partner Peter Schwartz with associates Edward Holmes, Noel Hughes, Corey Blake, Albert Aharonian, William Helmken, Alicia Veglia, and Jiten Tank, and the New York office team included partners Michael Michetti and Joel Simon, of counsel Benjamin Cheng and associate Frank Grese, as well as tax partner Andrew Short and associates David Makso and Daniel Greenwald.
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.