Rogers Communications announces private sale of Cogeco shares

On December 11, 2023, Rogers Communications (RCI) agreed to sell all of the subordinate voting shares of Cogeco Inc. (CGECF) and of Cogeco Communications (CGEAF) owned by it to Caisse de depot et placement du Quebec in a private transaction for an aggregate purchase price of approximately $829M. The shares will be sold for cash at a price of $46.91 per SVS of CGO and $51.40 per SVS of CCA pursuant to a share purchase agreement between RCI and CDPQ. Immediately prior to the sale, RCI will own 5,969,390 SVS of CGO and 10,687,925 SVS of CCA, representing approximately 42.6% of the outstanding CGO SVS and approximately 37.1% of the outstanding CCA SVS, respectively. Following the sale, RCI will own no SVS of CGO or CCA.