Peer 1 Network Enterprises completes its C$600 million sale to Cogeco Cable

Closing Date: 1/29/2013

Value: C$600 million

On January 29, 2013, Cogeco Cable Inc. (Cogeco Cable), a telecommunications corporation headquartered in Montreal and the eleventh largest hybrid fibre coaxial cable operator in North America, completed its acquisition of Peer 1 Network Enterprises, Inc. (Peer 1) by way of a take-over bid for cash consideration of $3.85 per common share valuing Peer 1 at approximately $635 million.

In connection with the completion of the take-over bid, Cogeco Cable entered into new credit facilities with a syndicate of lenders led by National Bank of Canada in the aggregate amount of the Canadian equivalent of $650 million.

BLG acted as counsel to Peer 1 and senior management of Peer 1 with a team that included Nigel Cave, Rick Bennett, Stephen Antle, Robert Shouldice and Patrick Lindsay.