Stratos Acquisition Gains FCC Approval
[10-10-07 – Satellite Today] The U.S. Federal Communications Commission (FCC) has approved the acquisition of Stratos Global Corp. by CIP Canada Investments Inc., Stratos announced Dec. 10.
The transaction, including the assumption of net debt, is valued at 576 million Canadian dollars ($577 million), with CIP Canada offering. Inmarsat will lend CIP Canada, an investment firm focused on satellite companies, 250 million Canadian dollars ($250.4 million) with Inmarsat to hold an option to buy Stratos in 2009.
CIP expects to complete the acquisition of Stratos’ share capital within the next few days.