SES Raises $1 Billion to Buy All of O3b Networks

[Via Satellite 05-27-2015] SES raised $1.01 billion in a recently completed capital raising to fund the acquisition of the remaining shares in O3b Networks. After investing $20 million on April 29 to go from 49.1 percent to 50.5 percent ownership, the company now plans to use the proceeds raised to fund the total consideration of $730 million to increase its ownership of O3b to 100 percent. The transaction is subject to regulatory approvals, which are expected to finish during the second half of this year. SES will also use around $300 million to repay O3b’s most expensive debt facilities, leading to a reduction in annual financing costs after initially covering any repayment charges.

Next In Connectivity

SES Raises $1 Billion to Buy All of O3b Networks

Myanmar Teams with Intelsat to Advance 2G and 3G Wireless Networks

More on This Topic

Astrum Space Strikes SPAC Deal for D2D Service at $1B Valuation

Rocket Lab’s Bold Move to Acquire Iridium: Analysts Break Down the Strategy

TGS Taps Speedcast for All-LEO Solution

Lynk and Omnispace Completer Merger – Announce Elveo Mobile

Arabsat Signs Digital Communications Infrastructure Deal with Libya Telecom and Technology (LTT)

SES, Eutelsat Complete RDV1 Milestone for Europe’s IRIS2 Sovereign Constellation Program

AccelerCom and Eclipse Space Reveals Details of D2D Collaboration

Hispasat Obtains WTA Certification for Madrid Teleport

Skywave to Add Iridium SBS Data Service Into Industrial IoT Offering

Magazine

Newsletters

More on This Topic

Trending Now

Magazine