Abry exits RCN, Grande through $2.25B sale to TPG
TPG Capital LP is betting big on broadband services by shelling out more than $2 billion to acquire RCN Telecom Services LLC and Grande Communications Networks LLC from Abry Partners LLC.
The San Francisco-based buyout shop announced Monday that it has agreed to buy RCN and Grande for $1.6 billion and $650 million, respectively. TPG will merge the two cable companies post-transaction, which is expected to close in the first quarter of 2017.
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