Liberty Global, Searchlight To Acquire Choice Cable TV In Puerto Rico

(RTTNews) - Liberty Global plc (LBTYA, LBTYB and LBTYK) announced that, together with investment funds affiliated with Searchlight Capital Partners, L.P., it has entered into an agreement to acquire 100% of the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV, the second largest cable and broadband services provider in Puerto Rico. The deal values Choice at an enterprise value, before transaction costs, of approximately $272.5 million.

Choice's operations will be combined with Liberty Cablevision of Puerto Rico LLC and the combined business, which will be 60%-owned by Liberty Global and 40%-owned by Searchlight, will be the largest cable operator on the island.