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Brookfield Takes Cincinnati Bell Private

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Published: December 24th, 2019
Expanding its telecom portfolio, Brookfield Infrastructure Partners is buying Mario Gabelli-targted phone, broadband and video service provider Cincinnati Bell for $2.6 billion.

Expanding its telecom portfolio, Brookfield Infrastructure Partners LP (BIP) said Monday, Dec. 23, that it will buy regional phone, broadband and video service provider Cincinnati Bell Inc. (CBB) for $2.6 billion.

Brookfield agreed to pay $10.50 per share for Cincinnati Bell, driving shares of the Mario Gabelli-targeted telecom up 35% to $10.44 and pushing its market cap to nearly $530 million. The Cincinnati company also has about $2 billion in debt.

 

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

 

 

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