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Stonepeak acquire Astound Broadband from TPG for $8.1 Billion

3Nov By PriyankaNo Comments

ACQUISITION

Stonepeak acquire Astound Broadband from TPG for $8.1 Billion

PRINCETON, N.J., 3rd Nov 2020-- Stonepeak, a private equity firm specializing in infrastructure investing acquire Astound Broadband (Astound), the sixth-largest U.S. cable operator for $8.1 billion. Stonepeak will acquire the company from TPG Capital and Patriot Media Management. The transaction is expected to close in the second quarter of 2021 and is subject to customary closing conditions, including regulatory approvals. Stonepeak is partnering with Patriot Media, the industry-leading management team headed by Steve Simmons and Jim Holanda that currently manages Astound. The company is a premier broadband provider offering internet, entertainment, communications, connectivity, and fiber infrastructure solutions for residential customers and businesses of all sizes. The...

TPG picks 0.93 pc stake in Jio Platforms for $600 Million

New Delhi, Jun 13, 2020: Reliance Industries sold 0.93 percent stake in its digital unit Reliance Jio to global alternative asset firm TPG for $600 million (Rs 4,546.80 crore), taking the cumulative fundraising to over $13.49 billion (Rs 1.02 lakh crore) by selling nearly 22% stake that will help pare debt at the oil-to-telecom conglomerate. "TPG will invest $600 million (Rs 4,546.80 crore) in Jio Platforms at an enterprise value of $65 billion (Rs 5.16 lakh crore)," the company said in a statement. The investment will translate into a 0.93 per cent equity stake in Jio Platforms on a fully diluted basis for TPG. "With this investment, Jio Platforms has raised $13.49 billion (Rs 102,432.45 crore) from leading global technology investors including Facebook, Silver Lake, Vista Equity...

TPG May Acquire Large Stake in Big Data Firm Mu Sigma

The big data analytics company Mu Sigma is in talks with the private equity player TPG Capital to sell a large stake sale in the firm. According to the sources, this acquisition of stake may result in a potential sale of the venture and this will value the company at around $1.2 billion. However, there has been no formal agreement regarding the same, the sources say the ongoing talks may not lead to a definitive deal and a complete exit for present shareholders is not being ruled out. “TPG and Mu Sigma are trying to explore if a deal is workable. The discussions have been substantial but contours of the transaction are yet to evolve,” stated a source familiar to the matter. He also told that the two companies have not involved any investment banks yet. The data analytics company ...