Intelsat plans to ink deal with private investors

MUMBAI: After Intelsat canned its plans to launch a public offering, it has been in talks with several financial buyers about a deal which could be worth up to $5 billion.

According to media reports, investment bank Morgan Stanley and Merrill Lynch are conducting an auction for the Bermuda-based satellite services group. The auction is reportedly gathering momentum after Blackstone, the US buy-out group, paid $956 million for New Skies Satellites last weekend. New Skies was spun out of Intelsat in 1998.

The bidders for Intelsat include a joint approach from Madison Dearborn and Apollo, and Bain Capital and Thomas H Lee. Blackstone and Kohlberg Kravis Roberts, two large US houses who have both done "platform" deals in the sector, are also reported to be interested.

The reports indicate that the auction of Intelsat, of which 24 per cent is owned by the US defence group, Lockheed Martin, could be completed within months.

It is also mentioned that Intelsat has hired advisors to hasten up the sale because the high-yield markets are becoming more expensive, making it difficult for buyout houses to fund deals.

Intelsat became a private company in 2001 after 37 years as an inter-governmental organisation. Apart from Lockheed Martin, a number of telecom groups have stakes in the business.

Intelsat has more than 600 telecom service providers and broadcasters as customers. It provides "connectivity solutions" for businesses and governments for international communication.


Latest Reads
Andrew Jordan announced successor of AsiaSat's William Wade

Asia Satellite Telecommunications has announced the retirement of its executive director, president and CEO William Wade. He will serve his last day in the company on 1 November 2016 but will stay back as the senior advisor of AsiaSat until 31 March 2017.

Satellites Satellite Operators
GSAT-18 successfully launches, new capacity for DTH operators, TV channels

MUMBAI: Indian DTH operators, television channels, VSAT and digital satellite news gathering providers are a happy lot because of a development in Kouro French Guiana this morning. The reason: the successful launch of Arianespace’s Ariane 5 VA 531 rocket with its passenger, the Indian Space...

Satellites Satellite Launches
Bad weather pushes forward GSAT-18 launch

MUMBAI: The nation - and communication satellite trackers - will have to wait for another day. The Indian Space Research Organisation (ISRO) has announced that the launch of its GSAT-18 communications satellite has been delayed by a day. According to its launch partner, Arianespace, the flight...

Satellites Satellite Launches
ISRO's PSLV-C35 launches seven other satellites successfully

Around two hours after lift-off and after placing India’s weather satellite ScatSat1 in a polar sun synchronous orbit at 720 km, the Indian Space Research Organisation’s (ISRO’s) PSLV C35 rocket fired once again. Following that maneuver, it placed another seven satellites in orbit at an altitude...

Satellites Satellite Operators
ISRO’s PSLV-C35 takes off successfully, Scatsat1 launched

MUMBAI: It’s another feather in ISRO’s cap. The Indian space outfit seems to be going from success to success. Earlier this morning at 9:12 am, its latest mission the PSLV-C35 lifted off immaculately from the Satish Dhawan Space Centre in Sriharikota. Around 17 minutes later, its fourth stage...

Satellites Satellite Launches
ISRO to launch eight satellites using PSLV on 26 September

MUMBAI: It will be the second satellite launch this month for the Indian Space Research Organisation (ISRO). On 26 September 2016 at exactly 9:12 am the PSLV C35 will blast off from the first launch pad of the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh. It will mark the 37th...

Satellites Satellite Launches
XTreme-AsiaSat to provide 4K premium UHD content

4K-SAT, the Ultra-HD channel operated by Asia’s premier satellite operator Asia Satellite Telecommunications Co. Ltd. (AsiaSat), will be broadcasting premium extreme and outdoor content from XTreme Video on AsiaSat 4.

Satellites Satellite Operators
Govt satellite launches, including from India, to dominate future space market: Euroconsult

NEW DELHI: A major portion of satellites slated to be launched from 2016-2015 with launch mass over 50kg will be dominated by government satellites from countries like the US, Russia, India, China and Japan, according to Euroconsult.

Satellites Satellite Launches
India’s weather satellite INSAT-3DR launched successfully

India's Geosynchronous Satellite Launch Vehicle, equipped with the indigenous Cryogenic Upper Stage (CUS), on Thursday, successfully launched the country's weather satellite INSAT-3DR, into a Geosynchronous Transfer Orbit (GTO) in its tenth flight (GSLV-F05). The achieved orbit is very close to the...

Satellites Satellite Launches

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories