Digital Colony acquires Cogeco Peer 1 from Cogeco Communications Inc.

On May 1, 2019, Cogeco Communications Inc. completed the previously-announced sale of its subsidiary Cogeco Peer 1 to Digital Colony for C$720 million. The transaction is said to create Canada’s first neutral-host provider of small cell and 5G infrastructure and enterprise and wholesale fibre connectivity.

A syndicate of lenders, led by the Canadian Imperial Bank of Commerce (CIBC), acted as the lenders for Cogeco Communications in this deal.

Cogeco Communications Inc. is one of the largest telecommunications companies in North America, providing television, phone and internet solutions to customers in various parts of Eastern Canada and the USA. Cogeco Peer 1 owns large amounts of metro fibre in Toronto and Montreal, as well as several data centres in North America and Europe.

Digital Colony is a global investment firm dedicated to strategic opportunities in digital infrastructure.

McCarthy Tétrault advised CIBC and the syndicate of lenders with a team led by Mathieu Dubord that included Eve Tessier and Marjolaine Hémond Hotte.