Shearman & Sterling acted as legal counsel to Altice USA in its agreement to sell 49.99 percent of its LightPath fiber enterprise business to Morgan Stanley Infrastructure Partners for an implied enterprise value of $3.2 billion.

Altice USA will retain a 50.01 percent interest in LightPath and maintain control of the company. The transaction is currently expected to close in the fourth quarter of 2020 following customary regulatory approvals.

The Shearman & Sterling team below included counsel Jonathan Cheng.

The Team