Blackstone consortium completes $5.1bn investment in Rogers Communications’ internet and wireless unit

Blackstone led a PE consortium in a $5.1bn equity investment in a newly created subsidiary of Rogers Communications, marking one of the largest private capital transactions in Canadian telecoms.

The deal, initially announced in April, sees Blackstone and institutional partners take a 49.9% equity stake – representing 20% of voting rights – in the unit holding Rogers’ internet and wireless assets.

Rogers retains a 51.1% ownership stake and 80% voting control. The Canadian telecoms giant has the option to repurchase Blackstone’s interest after ei…