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New Skies Completes $54M Share Buy Back Program

By | September 3, 2003

      New Skies Satellites [NYSE: NSK], the Netherlands-based global satellite communications company, has completed its share repurchase program, acquiring a total of 13,057,024 ordinary shares at a cost of approximately $54.0 million, reflecting an average price of $4.14. New Skies will cancel the repurchased shares currently held as treasury stock.

      Approximately 93 percent of the repurchased shares came from New Skies’ original shareholder base, including the stakes of Deutsche Telekom, KDDI Corp., SingTel Optus, Singapore Telecom and Teleglobe. Goldman Sachs International and ABN AMRO Rothschild are acting as advisors to the company.

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