8 January 2018

Altice N.V spin-off its 67.2% interest in Altice USA

Altice N.V. to spin-off its 67.2% interest in Altice USA, Inc. (5.3 million shares of Class A Common Stock and 490.1 million shares of Class B Common Stock) through a distribution in kind out of its share premium reserve. Each Altice N.V. shareholder will be entitled to receive 0.4163 Altice USA, Inc. share for each Altice N.V. share held.

Each Altice N.V. shareholder will be given the right to elect its portion of Class A Common Stock and Class B Common stock its wishes to receive, with a cap on the maximum shares of Class B Common Stock of 247.7 million shares of Class B Common Stock or 50%. If the cap is exceeded the Class B Common Stock requested by a shareholder will be proportionally reduced and replaced by shares of Class A Common Stock. The Altice USA, Inc. shares of Class A Common Stock are listed and entitled to one vote per share. The Altice USA, Inc. shares of Class B Common Stock are non-listed and entitled to 25 votes per share.

De Brauw acted as lead counsel to Altice N.V.

Team:
Martin can Olffen, Gaby Smeenk, Paul Sleurink and Angela van Breda.

For more information, read here.

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