Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
CINCINNATI BELL INC completed a disposition involving CBTS Borrower, LLC for $670,000,000 in cash (closed 2024-12-02).
- Action
- disposition
- Counterparty
- CBTS Borrower, LLC
- Consideration
- $670,000,000 in cash
- Closing
- 2024-12-02
Exact text from the filing
On December 2, 2024 (the “Closing Date”), Cincinnati Bell Inc., an Ohio corporation (the “Company”), completed the previously announced sale of all of the issued and outstanding equity interests of CBTS LLC and CBTS Extended Territories LLC, which directly or indirectly hold all of the issued and outstanding equity interests in the subsidiaries of the Company that operate the Company’s IT services business and operations supporting enterprise business customers with technology solutions and services including application modernization, cybersecurity, IT consulting, cloud, unified communications, and infrastructure solutions, to CBTS Borrower, LLC, a Delaware limited liability company (“Purchaser”), pursuant to the Equity Purchase Agreement, dated February 2, 2024 (the “Purchase Agreement”), by and among the Company, Purchaser and, solely for certain purposes set forth in the Purchase Agreement, CBTS LLC, for $670,000,000 in cash, subject to certain adjustments set forth in the Purchase
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