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Client Work

Cable operator Persona Inc. acquired for $406 million by consortium of Canadian and U.S. private equity groups

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Hicks, Muse, Tate & Furst Incorporated and Canadian Cable Acquisition Company Inc.

Canadian Cable Acquisition Company Inc., a company owned by an investor group assembled by Hicks, Muse, Tate & Furst Incorporated and comprised of Hicks, Muse, Tate & Furst Incorporated, TD Capital Canadian Private Equity Partners and CIBC Capital Partners, acquired all of the shares of Persona Inc., Canada's sixth-largest cable operator and a Toronto Stock Exchange listed company, in a going private transaction effected by means of a plan of arrangement. The transaction was valued at approximately $406 million and closed on July 30, 2004. Following the closing Persona's shares were delisted from the Toronto Stock Exchange.
As part of the transaction, Philip Keeping purchased all of the shares of Persona Communications (Barbados) Inc., Persona's indirect wholly-owned subsidiary.
The Toronto-Dominion Bank and Canadian Imperial Bank of Commerce arranged senior secured credit facilities to partially fund the purchase price for the acquisition.
Hicks, Muse, Tate & Furst Incorporated and Canadian Cable Acquisition Company Inc. were represented in Canada by Fasken Martineau with a team led by Stephen Erlichman (corporate/securities) and Barbara Miller (corporate/communications) which included Roxanne McCormick and Krisztian Toth (corporate/securities), Kathleen Hanly and Mitchell Thaw (tax), Brian Wright, Jon Holmstrom, Tom Meagher, Munier Saloojee and Scott Mitchell (banking), Ralph Nero (employment), Belinda James and Marc Vaturi (real property), Anthony Baldanza and Huy Do (competition) and Sam Rickett (litigation)