27.54 +0.40 (1.47%)
After hours: 6:06PM EDT
|Bid||27.14 x 1000|
|Ask||27.14 x 1300|
|Day's range||27.11 - 27.98|
|52-week range||15.95 - 31.78|
|Beta (5Y monthly)||0.99|
|PE ratio (TTM)||90.77|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||07 Jun 2018|
|1y target est||N/A|
Altice USA (NYSE: ATUS) today makes the following statement following the sale of Altice USA shares by funds advised by BC Partners:
Altice USA (NYSE: ATUS) today reports results for the second quarter ended June 30, 2020.
Altice USA (NYSE: ATUS) today announces it has agreed to sell 49.99% of its Lightpath fiber enterprise business to Morgan Stanley Infrastructure Partners (MSIP) for an implied enterprise value of $3.2 billion. This represents a multiple of 14.6x FY 2019 Adjusted EBITDA and an Operating Free Cash Flow (Adjusted EBITDA less capex) multiple of 25.7x1. Altice USA will receive total gross cash proceeds of approximately $2.3 billion from the sale and related financing activity (net cash proceeds of approximately $1.1 billion after tax and initial debt repayment as described below). Altice USA will retain a 50.01% interest in Lightpath and maintain control of the company.