Stonepeak to Buy TPG’s Cable Unit Astound for $8.1 Billion
- Stonepeak preempted auction, beat Blackstone and I Squared
- Astound competes with bigger rivals Comcast, Charter
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Stonepeak Infrastructure Partners said it would acquire Astound, the sixth-largest U.S. cable and broadband provider, from private equity firm TPG for $8.1 billion including debt.
TPG is selling the company, which serves over a million customers under the brands RCN, Grande, Wave and enTouch, after it built it up through a series of acquisitions starting in 2016.