Cincinnati Bell Inc. Announces Completion of Acquisition by Macquarie Infrastructure Partners V, Redemption of 6 3/4% Cumulative Convertible Preferred Shares
Cincinnati Bell Inc. (NYSE:CBB) ("Cincinnati Bell" or "the Company"), today announced the completion of its acquisition by Macquarie Infrastructure Partners V ("MIP"), in an all-cash transaction valued at approximately $2.9 billion, including debt (the "Transaction").
Cincinnati Bell also announced that, in connection with the completion of the Transaction, it will redeem all of its issued and outstanding 6 3/4% Cumulative Convertible Preferred Shares, without par value (the "6 3/4% Preferred Shares"), and the corresponding depositary shares, each representing a one-twentieth interest in a 6 3/4% Preferred Share (the "Depositary Shares") (NYSE:CBB).
The Transaction
The Transaction, which