SiriusXM to contribute US$275m to Sirius XM Canada’s going private transaction

Counsel to Sirius XM Holdings Inc. in connection with Sirius XM Canada’s going private transaction.

In the transaction, Sirius XM Holdings Inc. will contribute US$275M to the acquisition vehicle, and increase its stake in Sirius XM Canada to 70% from 37%.

The transaction is subject to a number of customary conditions, including the approval of Sirius XM Canada shareholders and Canadian regulatory approvals, and offers exchangeable shares to Sirius XM Canada’s shareholders.

Upon closing of the recapitalization, Sirius XM Canada will no longer be a publicly traded stock.