Morgan Stanley Infrastructure Partners (MSIP) has agreed to pay $3.2 billion for a nearly 50 percent stake in the Lightpath fiber enterprise business of Altice USA, according to a statement by Simpson Thacher, the law firm advising MSIP on the transaction.
Lightpath provides advanced fiber, ethernet, data transport, IP-based virtual private networks, internet access, managed services, telephony services, including session-initiated protocol trunking, and VoIP services to a wide range of industries within the business market in the New York metropolitan area.
The transaction is expected to support Lightpath’s ongoing and new growth initiatives, improve operational performance, and provide strategic and financial flexibility at the company.
Following the sale, Altice USA will retain a 50.01 percent interest in Lightpath and maintain control of the company.
The transaction is expected to close in the fourth quarter of 2020, following customary regulatory a
