- Dan McKeen named Vice Chair,
Bell Aliant as the Atlantic team
continues to serve customers in New
Brunswick, Newfoundland and
Labrador, Nova Scotia and PEI
- Former Bell Aliant Chief Financial Officer Glen LeBlanc to become CFO of BCE and Bell
Canada in 2015
- Bell Aliant director and Maritime Travel CEO Robert Dexter joins BCE Board of Directors
- BCE has committed $2.1 billion in
capital investment for broadband fibre and mobile network expansion
across Atlantic Canada over the
next 5 years
MONTRÉAL and HALIFAX,
Nov. 3, 2014 /CNW Telbec/ - BCE Inc.
(TSX, NYSE: BCE) today announced the successful completion of its
privatization of Bell Aliant and the integration of its
Atlantic Canada affiliate into
BCE's national operations beginning today.
BCE also announced Dan McKeen as
its new Atlantic regional leader and the appointment of respected
business executive and former Bell Aliant director Robert Dexter to the BCE Board of Directors.
"BCE warmly welcomes Atlantic
Canada's leading communications company to our national
team. Together, we'll accelerate our strategy of customer-focused
broadband network and service investment that has transformed the
Bell brand," said George Cope,
President and CEO of BCE Inc. and Bell Canada. "BCE is focused on
delivering results for our customers, shareholders and team, and
that's what this transaction is all about. Today, Bell just got
better."
Investing in Atlantic
Canada
With a commitment to deliver world-class
broadband communications products and customer service to Atlantic
Canadians, Halifax-based Bell
Aliant will continue to provide customers in New Brunswick, Newfoundland and Labrador, Nova
Scotia and Prince Edward
Island with leading TV, Internet, home phone and business
services.
BCE plans to invest $2.1 billion
across all 4 Atlantic provinces over the next 5 years as part of
its extensive rollout of broadband wireline and wireless networks
for consumers and business customers. This includes continued
deployment of mobile 4G LTE service throughout the region, with
more than 100 small towns and rural locations to benefit from
enhanced 4G mobile service by the end of 2015. As part of its
national strategy to open new Canadian call centres, Bell announced
2 new centres in New Brunswick
that will bring 700 more jobs into the Bell team.
"In a competitive marketplace, BCE is committed to delivering
the latest communications innovations to our customers as quickly,
widely and efficiently as possible. Bringing Bell Aliant fully into
the national BCE organization enhances our broadband growth and
leadership strategy by aligning network capital investments,
broadening our national service capabilities, and increasing our
operational efficiency," said Mr. Cope."
BCE announced today that Dan
McKeen has been named to the newly created positions of Vice
Chair, Bell Aliant and Senior Vice
President, Residential Services, Bell Aliant. Formerly Bell
Aliant's Senior VP, Customer Solutions in charge of marketing,
sales and customer contact centres, Mr. McKeen will lead Bell's
Atlantic presence from the Halifax
headquarters of Bell Aliant.
As announced on October 14, 2014,
Glen LeBlanc, formerly Chief
Financial Officer of Bell Aliant, will become CFO of BCE and Bell
Canada when BCE's current Chief Financial Officer Siim Vanaselja retires in the second quarter of
2015. Until then, Mr. LeBlanc will serve as BCE's Senior Vice
President, Finance.
Robert Dexter joins the BCE
board
The Board of Directors of BCE today announced the
appointment of Robert Dexter, QC, as
a director of BCE Inc. and Bell Canada. Formerly a director of Bell
Aliant, Mr. Dexter will also serve as a member of BCE's Audit
Committee and Pension Fund Committee.
"We're very pleased that a respected business leader of
Rob Dexter's calibre has accepted
our invitation to join the Board," said Tom
O'Neill, Chair of the Board of BCE and Bell Canada. "Our
shareholders will be well served by his extensive experience in the
communications sector, in corporate governance, and in the
Atlantic Canada business and legal
community."
Mr. Dexter is Chairman and Chief Executive Officer of Maritime
Travel Inc. and Chairman of Sobeys Inc. and Empire Company Limited.
Mr. Dexter has extensive experience in the communications sector,
having served as a director of Maritime Tel & Tel Limited from
1997 to 1999 prior to joining the Aliant and later the Bell Aliant
boards. Mr. Dexter is also a director of High Liner Foods Inc.,
Wajax Corporation and counsel to the law firm Stewart McKelvey.
Privatization of Bell Aliant completed
On July 23, 2014, BCE announced it would privatize
its Bell Aliant affiliate by acquiring the interest of public
minority shareholders for consideration of approximately
$3.95 billion. The transaction has
now formally closed as BCE acquired the remaining 12,012,892 Bell
Aliant common shares through a compulsory acquisition effective
October 31, 2014 and now owns 100% of
Bell Aliant common shares.
Former Bell Aliant common shareholders who did not tender to
BCE's common share offer and whose shares were therefore acquired
by BCE through the compulsory acquisition can make an election
prior to 5:00 pm Eastern on
November 10, 2014 to receive
consideration per common share of either (a) $31.00 in cash, subject to pro-ration; (b) 0.6371
of a BCE common share, subject to pro-ration; or (c) $7.75 in cash
and 0.4778 of a BCE common share. Common shareholders who do not
make a valid election prior to the election deadline will be deemed
to have elected to receive $7.75 in cash and 0.4778 of a BCE common
share.
Following the election deadline, pro-ration information for the
common shares acquired pursuant to the compulsory acquisition will
be available at
BCE.ca/Investors/shareholder-info/bell-aliant-privatization.
Common shareholders must deliver their share certificates and a
properly completed letter of transmittal to CST Trust Company, at
the office specified in the Notice of Compulsory Acquisition dated
October 10, 2014, in order to receive
payment. The Notice of Compulsory Acquisition and accompanying
letter of transmittal are available on Bell Aliant's SEDAR profile
at www.sedar.com and BCE's EDGAR profile at www.sec.gov.
As a result of the amalgamation of Bell Aliant Preferred Equity
Inc. (TSX: BAF) (Prefco), which was approved by preferred
shareholders on October 31, 2014 and
became effective November 1, 2014,
Prefco became a wholly owned subsidiary of Bell Aliant.
Bell Aliant common shares were de-listed from the Toronto Stock
Exchange (TSX) on October 31, 2014
and the Bell Aliant preferred shares will be delisted from the TSX
at the close of trading today.
Caution Concerning Forward-Looking Statements
Certain
statements made in this news release are forward-looking
statements, including, but not limited to, the nature and value of
investments expected to be made in Atlantic Canada over the next 5 years, our
network deployment plans, certain strategic and financial benefits
expected to result from the Bell Aliant privatization, the
integration of Bell Aliant into BCE's national operations, the
termination of Bell Aliant's and Prefco's reporting issuer
obligations, our business outlook, objectives, plans and strategic
priorities, and other statements that are not historical facts. All
such forward-looking statements are made pursuant to the "safe
harbour" provisions of applicable Canadian and United States securities laws.
Forward-looking statements, by their very nature, are subject to
inherent risks and uncertainties and are based on several
assumptions, both general and specific, which give rise to the
possibility that actual results or events could differ materially
from our expectations expressed in or implied by such
forward-looking statements. As a result, we cannot guarantee that
any forward-looking statement will materialize and we caution you
against relying on any of these forward-looking statements. The
forward-looking statements contained in this news release describe
our expectations as of November 3,
2014 and, accordingly, are subject to change after such
date. Except as may be required by applicable Canadian securities
laws, we do not undertake any obligation to update or revise any
forward-looking statements contained in this news release, whether
as a result of new information, future events or otherwise.
The value of investments expected to be made in Atlantic Canada over the next 5 years assumes
that investments will continue at current levels. However, there
can be no assurance that such investment levels will be maintained
with the result that the value of actual investments made in
Atlantic Canada could materially
differ from current expectations. In addition, there can be no
assurance that the strategic and financial benefits expected to
result from the Bell Aliant privatization will be fully realized.
Achieving such anticipated benefits depends, in part, on
successfully consolidating functions and integrating operations,
procedures and personnel in a timely and efficient manner. There
can be no assurance that such consolidation and integration will be
successful.
For additional information on assumptions and risks underlying
certain of the forward-looking statements made in this news
release, please consult BCE's 2013 annual MD&A dated
March 6, 2014 (included in BCE's 2013
Annual Report), as updated in BCE's 2014 first quarter MD&A
dated May 5, 2014 and BCE's 2014
second quarter MD&A dated August 6,
2014 , filed with the Canadian securities regulatory
authorities and with the SEC, and which are also available on BCE's
website at BCE.ca.
Notice to U.S. Security Holders
This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy common shares of BCE, and shall not constitute an offer,
solicitation or sale in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful. BCE has filed a
Registration Statement on Form F-8 with the SEC in respect of its
acquisition of the common shares of Bell Aliant. This press release
is not a substitute for the Registration Statement or any other
documents that BCE has filed or may file with the SEC or has sent
or may send to shareholders in connection with the compulsory
acquisition. BEFORE MAKING ANY DECISIONS IN RESPECT OF THE
COMPULSORY ACQUISITION, COMMON SHAREHOLDERS OF BELL ALIANT ARE
URGED TO READ THE REGISTRATION STATEMENT AND ALL OTHER RELEVANT
DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION
WITH THE COMPULSORY ACQUISITION BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT THE TRANSACTION. You will be able to obtain a
free copy of the Registration Statement and other filings
containing information about BCE at the SEC's website at
www.sec.gov.
About BCE
BCE is Canada's largest communications company,
providing a comprehensive and innovative suite of broadband
communication services to residential and business customers under
the Bell Canada and Bell Aliant brands. Bell Media is Canada's premier multimedia company with
leading assets in television, radio, out of home and digital media,
including CTV, Canada's #1
television network, and the country's most-watched specialty
channels. To learn more, please visit BCE.ca.
Bell Let's Talk promotes Canadian mental health with national
awareness and anti-stigma campaigns, like Clara's Big Ride for Bell
Let's Talk and Bell Let's Talk Day, and significant Bell funding of
community care and access, research, and workplace initiatives. To
learn more, please visit Bell.ca/LetsTalk.
Media inquiries:
BCE
Jean Charles Robillard
(514) 870-4739
jean_charles.robillard@bell.ca
Bell Aliant
Jennifer MacIsaac
(902) 225-3704
jennifer.macisaac@bellaliant.ca
Investor inquiries:
Thane Fotopoulos
BCE Investor Relations
(514) 870-4619
thane.fotopoulos@bell.ca
SOURCE BCE Inc.