Cogeco moves into Portugal for $658 million

MONTREAL – As has been rumored since last summer, Cogeco Cable has agreed to buy Portuguese cable company Cabovisao-Televisao por Cabo S.A. Cabovisao is owned by Cable Satisfaction International Inc. (CSII), Catalyst Fund Limited Partnership I. CSII has been in bankruptcy protection and looking for a buyer for the cable company it built since 2003. The 464.9 million Euro (C$658 million) purchase price includes all the shares of the second largest cable operator in Portugal as well as the purchase of senior debt and reimbursement of certain other liabilities of Cabovisao. The agreed-upon purchase price for the shares and senior...