Rogers closes CDN$7 billion equity investment transaction

Rhea-AI Summary

Rogers Communications has successfully closed a CDN$7 billion equity investment transaction with Blackstone and leading Canadian institutional investors. The deal involves Blackstone acquiring a non-controlling stake in a new Rogers subsidiary that owns part of the company's wireless backhaul transport infrastructure. Rogers will maintain full operational control of its network and continue to consolidate the subsidiary's financial results. The investment group includes major Canadian institutions such as CPP Investments, La Caisse, PSP Investments, BCI, and IMCO. The proceeds will be used to reduce Rogers' debt, demonstrating the company's commitment to deleveraging its balance sheet while unlocking value from its infrastructure assets.

Positive

• Secured substantial CDN$7 billion equity investment from reputable investors
• Company maintains full operational control of wireless network
• Proceeds will be used to reduce debt and improve balance sheet
• Partnership with prestigious institutional investors demonstrates confidence in Rogers' assets

Negative

• Partial sale of wireless infrastructure assets to external investors
• Increased complexity in corporate structure with new subsidiary creation

Proceeds will be used to repay debt
Rogers will maintain full operational control of its wireless network

TORONTO, June 20, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI) today announced it has closed its CDN$7 billion equity investment from funds managed by Blackstone, backed by leading Canadian institutional investors.

Blackstone has acquired a non-controlling interest in a new Canadian subsidiary of Rogers that owns a portion of Rogers wireless backhaul transport infrastructure. Rogers is maintaining full operational control of its network and will include the financial results of the subsidiary in its consolidated financial statements.

“This transaction demonstrates the confidence investors have in Rogers and our world-class assets,” said Tony Staffieri, President and CEO. “With this significant investment, we are unlocking the unrecognized value of critical assets and executing on our commitment to de-lever our balance sheet.”

The investor group led by Blackstone includes Canada Pension Plan Investment Board (CPP Investments), Caisse de dépôt et placement du Québec (La Caisse), the Public Sector Pension Investment Board (PSP Investments), British Columbia Investment Management Corporation (BCI) and the Investment Management Corporation of Ontario (IMCO).

Additional information about the transaction and its terms and conditions is available under Rogers profile on SEDAR+ at www.sedarplus.ca. 

About Rogers Communications Inc.
Rogers is Canada’s leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.

For more information:
Media
media@rci.rogers.com
1-844-226-1338

Investor Relations
investor.relations@rci.rogers.com
1-844-801-4792

FAQ

What is the value of Rogers Communications' (RCI) equity investment deal with Blackstone?

Rogers closed a CDN$7 billion equity investment deal with Blackstone and other Canadian institutional investors

Will Rogers maintain control of its wireless network after the Blackstone investment?

Yes, Rogers will maintain full operational control of its network and will include the subsidiary's financial results in its consolidated statements

How will Rogers use the proceeds from the CDN$7 billion Blackstone investment?

The proceeds will be used to repay debt and deleverage Rogers' balance sheet

Which Canadian institutional investors are part of the Rogers-Blackstone deal?

The investor group includes CPP Investments, La Caisse, PSP Investments, BCI, and IMCO

What assets are included in the Rogers-Blackstone investment deal?

The investment involves a portion of Rogers' wireless backhaul transport infrastructure, held in a new Canadian subsidiary