SES Global Restructures Holdings

By | July 2, 2004 | Uncategorized

SES Global S.A. [SESG], the world’s largest satellite operator, today announced a restructuring of its assets in its core satellite infrastructure business and its holdings in various satellite service companies. The aim is to align the organization’s structure with its different strategic pillars, both within the regional and the business segment dimensions, and to optimize the corporate group and financing structure, company officials said.

To that end, SES Global has set up five Luxembourg-based companies: SES Global Africa S.A., SES Global Asia S.A., SES Global Europe S.A., SES Global Latin America S.A., as well as SES Global Participations S.A. In addition, the parent company retains its 100 percent holding of SES Astra (also owning 75 percent of Nordic Satellite AB) and of SES Global Americas (controlling 100 percent of SES Americom).

Romain Bausch, president and CEO of SES Global, said the new group structure will lay the foundation for a flexible corporate legal entity framework that can be tailored for any present and future geographical and business segmental development. In addition, the strategic alignment will optimize the corporate group and financing structure, increase transparency of the financial numbers by region and by market segment, as well as release deferred tax provisions with a favorable impact on consolidated results, he added.

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