Intelsat Sold For $5 Billion

By | August 16, 2004 | Uncategorized

Intelsat Ltd. today said it has signed a definitive agreement to be sold to a consortium of private-funds partners. The transaction, which includes the assumption of $2 billion in existing debt, is valued at $5 billion. The winning consortium includes Apax Partners, Apollo Management, Madison Dearborn Partners and Permira. The deal could close as early as year’s end, and Intelsat said all of the existing service agreements will remain intact.

The closing of the transaction is subject to a variety of conditions, including approval from 60 percent of Intelsat shareholders at a vote to be taken at a general meeting later this year and other regulatory approvals.

For an in-depth analysis on what this sale means to the satellite industry, please see the Aug. 23 issue of Satellite News. For more information on subscribing to Access Intelligence’s satellite publications, please visit us on the Web at http://www.satellitetoday.com.

Live chat by BoldChat