Transactions & Cases Detail



Transaction/Case Details

Bank of Montreal provides loan for York Capital's US$129 million purchase of Primus' retail operations

DATE CLOSED

July 31, 2013

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto

VALUE

129 Million USD


OVERVIEW

On July 31, 2013, Primus Telecommunications Group sold its North American retail telecommunications operations in the US and Canada to affiliates of York Capital Management, for approximately US$129 million. Bank of Montreal acted as lender in this acquisition.

Bank of Montreal, headquartered in Toronto, Ontario, is a financial institution, fourth-largest in Canada by market capitalization and by assets.

Primus, headquartered in McLean, Virginia, is an international wholesale service providers to fixed and mobile network operators worldwide.

York Capital Management, headquartered in New York, New York, is an investment firm.

McCarthy Tétrault LLP represented Bank of Montreal, with a team led by Joel Scoler.

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