SES Global Increases Stake In NSAB
Luxembourg-based satellite operator SES Global [Luxembourg: SESG] has agreed to acquire an additional 25 percent stake in Sweden’s Nordic Satellite AB (NSAB) from the Swedish Space Corp., increasing its stake to 75 percent. Financial terms of the transaction, which is expected to close on Feb. 2, 2004, were not disclosed.
By gaining a controlling stake in NSAB, SES Global wants to take advantage of synergies between its Astra satellite system and NSAB’s Sirius satellites. Swedish Space will retain a 25 percent stake in NSAB and, under a new technical services agreement, will continue to provide network operations as well as satellite control, telemetry, tracking & control services to the Sirius satellites.