Rogers closes C$7 billion equity investment

On June 20, 2025, Rogers Communications Inc. (Rogers) announced with the closing of its C$7 billion equity investment from funds managed by Blackstone, backed by leading Canadian institutional investors.

The investor group led by Blackstone, included Canada Pension Plan Investment Board (“CPP Investments”), Caisse de dépôt et placement du Québec (“CDPQ”), the Public Sector Pension Investment Board (“PSP Investments”) and British Columbia Investment Management Corporation (“BCI”).

Under the terms of the transaction, announced on April 4, 2025, Blackstone acquired a non-controlling interest in a new Canadian subsidiary of Rogers that owns a portion of Rogers wireless backhaul transport infrastructure. Rogers maintains full operational control of its network and will include the financial results of the subsidiary in its consolidated financial statements.

Following closing, Blackstone holds a 49.9% equity interest (with a 20% voting interest) in the subsidiary, with Rogers holding a 50.1% equity interest (with an 80% voting interest). At any time between the eighth and twelfth anniversaries of the transaction’s closing, Rogers will have the right to purchase Blackstone’s interest in the subsidiary.

Rogers intends to use the net proceeds from the transaction to repay debt.

Further information can be found on Globe Newswire’s website.

Rogers is Canada’s leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange and on the New York Stock Exchange.