Cable legend John Malone has purchased an equity stake in Columbus International, obtaining a board seat and helping to fuel the Caribbean and Latin American communications services provider’s expansion plans.
Columbus said Tuesday that Malone has personally acquired an equity stake through purchasing secondary shares from existing shareholders and primary shares through the company’s treasury. As a result, Malone will become the largest single minority investor in Columbus. The company stressed that the investment was made in Dr. Malone’s personal capacity and is not connected to his other business interests. Malone also serves as chairman of Liberty Media Corp., and Liberty Global.
RBC Capital Markets acted as the exclusive financial adviser to Columbus in the transaction.
Columbus International provides telecommunications services, including cable television, high-speed Internet, digital telephony and commercial data services in 25 countries throughout the greater Caribbean, Andean and Central American regions. Columbus also operates the largest cable franchise in the Caribbean under the brand name “Flow.”
Columbus would not reveal the size of Malone’s stake or how much he paid for it. In a statement the company said its issuance of primary shares will be used to accelerate the completion of its current capital plans, fund potential future acquisitions, enhance balance sheet liquidity and flexibility and for general corporate purposes.