Shearman & Sterling is advising Altice N.V. on its $17.7 billion acquisition of Cablevision Systems Corporation—a combination that will create the fourth largest cable operator in the US market. The announced transaction is expected to close in the first half of 2016 once applicable regulatory approvals have been obtained.
Cablevision is the leading operator in the New York metropolitan area (New York, New Jersey, Connecticut). With a network passing more than 5 million premises Cablevision serves more than 3.1 million residential and business customers.
Founded by telecom entrepreneur Patrick Drahi, Altice is a multinational cable, fiber, telecommunications, contents and media company.
The Shearman & Sterling team was led by partners Creighton Condon and David Connolly and of counsel John Madden (all New York-Mergers & Acquisitions) and included partners Doreen Lilienfeld (New York-Executive Compensation & Employee Benefits), Sami Toutounji (Paris-Capital Markets), and George Karafotias (London-Mergers & Acquisitions); counsel Harald Halbhuber (New York-Capital Markets); associates Richard Fischetti (New York-Mergers & Acquisitions), Erik Lindemann (New York-Mergers & Acquisitions), Mark Pereira (New York-Intellectual Property Transactions), and Nell Beekman (New York-Executive Compensation & Employee Benefits); and international associate Orla McMahon.