Cogeco Cable (TSX:CCA) subsidiary Atlantic Broadband has entered into a definitive agreement with MetroCast Communications of Connecticut to purchase substantially all of the assets of MetroCast Connecticut for $200 million. The transaction is subject to regulatory governmental approvals along with other customary closing conditions and is expected to close during the third calendar quarter of 2015.
MetroCast Connecticut's network passes close to 70,000 homes and businesses across nine communities in eastern Connecticut including New London, Waterford, East Lyme, Montville, Plainfield, Killingly, Sterling, Griswold, and Putnam. Additionally, MetroCast Connecticut's system serves approximately 23,000 TV, 22,000 Internet and 8,000 phone customers.
