Serafina Completes Intelsat Acquisition
[Satellite Today – 2-4-08] Serafina Holdings completed its acquisition of Intelsat Holdings Ltd., Intelsat announced Feb. 4.
Serafina, an entity formed by funds advised by BC Partners, Silver Lake and certain other equity investors, acquired Intelsat for $16.4 billion, which includes $11.4 billion in Intelsat debt.
Intelsat’s executives will remain in place and have an equity interest in Serafina Holdings, which is expected to be renamed Intelsat Global Ltd.
“This transaction closes at a time when Intelsat is seeing strong momentum,” Intelsat CEO Dave McGlade said in a statement. “We have improved the operating profile of our company based on initiatives such as our fleet management program and the introduction of new services.”