Cogeco buys remaining MetroCast systems in U.S. for $1.4B

MONTREAL and QUINCY, MA - Cogeco Communications subsidiary Atlantic Broadband is buying the MetroCast cable systems in the eastern United States for US$1.4 billion, the company announced early Monday.MetroCast's networks pass close to 236,000 homes and businesses in New Hampshire, Maine, Pennsylvania, Maryland and Virginia and serve approximately 120,000 Internet, 76,000 video and 37,000 telephony customers.Cogeco said that the Caisse de dépôt et placement du Québec pension fund will provide US$315 million in return for a 21% equity stake in Atlantic Broadband's holding company, while the remaining balance of the purchase price and transaction costs will be financed through a...