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US: Comcast to spend $16.7B for GE’s stake in NBCUniversal

By  |  February 12, 2013
US: Comcast to spend $16.7B for GE’s stake in NBCUniversal

It was announced by Comcast on Tuesday that the cable giant would buy the entirety of the 49 percent stake in NBCUniversal, currently owned by General Electric, in a deal worth about $16.7 billion. Shares spiked for both Comcast and GE following the news. The parties involved expect to close out the deal by the end of the first quarter and includes, in addition to $11.4 billion in cash, $4 billion of subsidiary senior unsecured notes, $2 billion of borrowings and/or bank credit facilities, and $725 million of subsidiary preferred stock. Comcast CEO Brian L. Roberts said in a statement Tuesday that the deal is “attractive” and that his company took “a number if financial steps” beforehand to prepare for the deal.

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