Shaw Communications To Buy Wind Mobile In Deal Valued At C$1.6 Bln

(RTTNews) - Canadian communications and media company Shaw Communications Inc. (SJR, SJR.B.TO) said it has agreed to acquire a 100 percent interest in Mid-Bowline Group Corp. and its wholly-owned subsidiary as well as wireless services provider, Wind Mobile Corp. for an enterprise value of about $1.6 billion.

Shareholders of Mid-Bowline Group Corp. have approved the transaction, which is expected to close during the third quarter of fiscal 2016.

Shaw Communications noted that the acquisition will enhance its product offering by expanding mobile service capabilities and enabling development of a best-in-class converged wireline and wireless network.

According to Shaw Communications, the acquisition of Wind represents the most efficient operating and financial entry point into the Canadian wireless landscape.

Wind is Canada's largest non-incumbent wireless services provider, serving about 940,000 subscribers across Ontario, British Columbia and Alberta with 50MHz of spectrum in each of these regions. In calendar year 2015, Wind is expected to generate C$485 million in revenue and C$65 million in EBITDA.