• Shaw Communications To Acquire WIND Mobile For 1.6 Billion


    Consider it an birthday present. On the same day that WIND Mobile celebrates its 6th Anniversary, news has surfaced that Shaw Communications is set to acquire WIND for $1.6 Billion.

    Shaw, a Canadian telecommunications company with a large footprint in Western Canada, currently does not offer wireless services. This isn't the first time WIND has been attempted to be bought, as rumors of a Verizon buyout circulated in 2013.

    As per Canadian regulations, WIND's acquisition by Shaw will require approval by Industry Canada and the Competition Bureau, though industry experts expect no issues as Shaw is currently not involved in the Wireless industry.

    The transaction is expected to close in the first half of 2016 and is subject to customary conditions, including receipt of applicable regulatory approvals.

    Press Release

    Wind Mobile to be Acquired by Shaw Communications

    TORONTO, Dec. 16, 2015 /CNW/ - WIND Mobile Corp. ("WIND" or the "Company"), a wholly owned subsidiary of Mid-Bowline Group Corp ("Mid-Bowline"), today announced that it has entered into agreements under which Shaw Communications will acquire a 100% interest in Mid-Bowline and WIND for an enterprise value of approximately $1.6 billion (the "Transaction").

    WIND's Chief Executive Officer, Mr. Alek Krstajic, and his team will remain with the Company and will continue to oversee the wireless business. "We believe the combination of Shaw and WIND creates a wireless leader with immediate benefits for our customers and employees, giving them more choice, capabilities and opportunities to stay connected," said Mr. Krstajic. "With Shaw's long-term commitment, this transaction enables us to enter into a new phase of growth in the Canadian wireless sector."

    Mid-Bowline is owned by a consortium of investors, including funds managed by West Face Capital, Globalive Capital, Tennenbaum Capital Partners, the family office of Lawrence Guffey and certain others.

    "We are delighted to announce the sale of WIND to Shaw, one of Canada's premier communications companies with highly complementary consumer offerings," said Mr. Greg Boland, Chief Executive Officer of West Face Capital. "Under Shaw's stewardship, WIND's employees and customers will be in great hands."

    Mr. Michael Leitner, Managing Partner at Tennenbaum Capital said "this transaction represents another significant milestone in WIND's growth story. The shareholders appreciate the guidance Alek and the management team have provided and we look forward to viewing WIND's continued success as part of the Shaw organization."

    The transaction is expected to close in the first half of 2016 and is subject to customary conditions, including receipt of applicable regulatory approvals.

    PJT Partners LP acted as lead financial advisor and Davies Ward Phillips & Vineberg LLP acted as legal counsel to WIND and the Shareholders. BMO Capital Markets also acted as a financial advisor to WIND.

    About WIND Mobile
    WIND Mobile is Canada's alternative wireless carrier, dedicated to bringing affordable wireless service to Canadians by offering simple and fair unlimited plans with no overage charges and no hidden fees. Learn more about WIND Mobile at WINDmobile.ca or follow online at facebook.com/WINDmobile or twitter.com/WINDmobile.


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