On Tuesday Columbus proudly announced the addition of Dr. John C. Malone as a new equity share holder in the company. Dr. Malone is Chairman of Liberty Media Corporation, as well as Chairman of Liberty Interactive Corporation. Dr. Malone is also the Chairman of the Board of Liberty Global, Inc., the world’s second largest cable MSO.
According to his Wiki page, Dr. Malone is also the largest individual private landowner in the United States, owning 2,100,000 acres (8,500 km2) of land, most of which is in Maine. I don’t know why I decided to drop this little nugget in here, but I did….
Dr. Malone’s investment was facilitated through the acquisition of secondary shares from existing shareholders in addition to the purchase of primary shares that will be issued from the Company’s treasury. As a result of this transaction, Dr. Malone will become the largest single minority investor in Columbus. Dr. Malone will also have representation on the Company’s Board of Directors. The investment in Columbus was made in Dr. Malone’s personal capacity and is in no way connected to his other business interests in the Liberty Group of Companies.
What does this mean for Columbus and Flow on the long run? Well, Columbus is looking at more financial flexibility, which could mean good news for us Flow clients on Curacao.
The company intends to use the net proceeds from the issuance of primary shares to accelerate the completion of its current capital plans, fund potential future acquisitions, enhance balance sheet liquidity and flexibility and for general corporate purposes. The net proceeds of this transaction will help the company capitalize on near-term opportunities and provide additional flexibility to prudently manage its financial position.
Below you can download the Columbus Inc. press release that was sent out regarding Dr. Malone’s investment.