Digital Colony Management, LLC entered into a definitive agreement to acquire Cogeco Peer 1 Inc. from Cogeco Communications Inc. (TSX:CCA) for CAD 720 million on February 26, 2019. Under the terms of the agreement, Digital Colony will pay CAD 99 million for Cogeco Peer 1 (USA) Holdings Inc. (subsidiary of Cogeco Peer 1 Inc.), CAD 34.8 million for Cogeco Peer 1 (UK) Ltd. (subsidiary of Cogeco Peer 1 Inc.), CAD 6980 for the New Canco GP shares, CAD 69.8 million for Barrie units, and CAD 516.4 million at closing. The consideration is subject to certain closing adjustments. As part of the deal, Cogeco will retain fiber capacity in Toronto and Montreal. TD Bank is leading on debt financing for Digital Colony. Cogeco Peer 1 will operate as a standalone business and will adopt a new brand post transaction. Susan Bowen will remain the Chief Executive Officer and will retain the executive team of Cogeco Peer 1. Cogeco Peer 1 will remain headquartered in Toronto. The completion of the transaction is subject to certain customary closing conditions, including receipt of certain regulatory approvals, HSR Act approval, and competition act approval. The transaction is expected to close during the second quarter of 2019. The anti-trust nod was received on March 13, 2019 following the early expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. As of March 15, 2019, the transaction is seen to close by the end of May. Cogeco Communications plans to use a large portion of the proceeds to repay amounts outstanding under the its term revolving facility and, subject to the approval of the Toronto Stock Exchange, repurchase certain subordinate voting shares. RBC Capital Markets acted as financial advisor while Andrew M. Cohen, Andrew Etcovitch, John Israel Galambos, Philippe St-Louis , Philipp Park, Lawrence Wilder, Louis-Philippe Borduas, Jean Bernard Ricard, Elissa Brock, Grégory Morin-Maltais, Julien Morier, and Amadou Barry, Keyvan Nassiry, Nora Osbaldeston and Jean-Charles Panzini, Chantal Joubert, Alexandre Hébert, Ali Baniasadi, Danielle Parry, Nadia Guizani, Stuart Chaimberg, Eric Dufour and Robyn Burns, Lisa Goodfellow, Daphnée Beauchamp, Isabella Gallo, Greg Bush and Kim Ozubko, Ron Choudhury, Anne-Frédérique Bourret, Claire Durocher, Alexandre Ajami and Karen Durell of Miller Thomson LLP and Davies Ward Phillips & Vineberg LLP acted as legal advisors to Digital Colony. BMO Capital Markets acted as financial advisor while Warren M. Katz, Olivier Godbout, Barbara Sheng, Jules Dumas Richard, Jordan Altman, Candace Cerone, Neil Bindman, Stefan Fews, Amelia Mounsey, Luc Bernier, Nathaniel Lacasse, Maxime Jacquin, Jeff Brown, Susan Hutton, David Elder, Michael Rosenstock, Michel Legendre, Justine Whitehead, Jonathan Auerbach, Myriam Fortin, Stephanie Weschler, Stephanie Pasternyk and Liliana Raffo of Stikeman Elliott LLP acted as legal advisors to Cogeco Communications.