Shin Satellite Sells Shenington
By JJ McCoy | June 5, 2007
Shin Satellite is teaming with Asia Mobile Holdings (AMH) as Shin aims for a better performance in Cambodia and Laos, the company announced June 4.
The satellite operator said it is selling its 49 percent stake in Shenington Investments to AMH for $200 million. Shenington is an investment holding company with a 100 percent stake in Cambodia Shinawatra Co. and 49 percent stake in Lao Telecommunications Co.
With a 51 percent stake, Shin will remain the controlling shareholder of Shenington. The transaction values Shenington at an equity value of approximately $400 million.