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SES Global Completes Acquisition of New Skies Satellites |
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BETZDORF, Luxembourg, March 31, 2006/Satnews Daily/ ― SES Global (PINK SHEETS:SGBAF) (EURONEXT:SESG) (LuxX:SESG) announced on Thursday the completion of its acquisition of 100 percent of New Skies Satellites (NSS).
SES Global acquired New Skies for $1.15 billion at $22.52 per share. SES Global said the transaction was completed following satisfaction of the closing conditions, including obtaining the remaining US regulatory approvals on March 29, 2006.
SES Global said trading in New Skies' shares on the New York Stock Exchange has been suspended as of close of trading on March 29, 2006. Holders of New Skies' ordinary shares as of the close of trading on March 29, 2006 will be entitled to payment of US$ 22.52 per fully diluted share.
SES Global said the integration of New Skies' assets strengthens SES' industry leadership position, notably by extending SES' presence in emerging markets like India, the Middle East, Africa and Latin America,
New Skies Satellites is the world's fifth largest satellite operator by in-orbit capacity. The company operates five spacecraft positioned at strategic orbital locations around the globe and plans to launch a sixth satellite before year-end 2006.
With the acquisition of New Skies, the satellite fleet of SES Global and its affiliates now comprises 43 spacecraft at 32 orbital locations, providing seamless state-of-the-art satellite coverage of the globe.
“We are delighted to have been able to conclude the transaction in such a short period since announcing it last December,” Romain Bausch, president and CEO of SES Global, said. “With the 100 percent acquisition of New Skies Satellites and its strategic assets, SES Global firmly establishes the Group's third satellite infrastructure pillar in markets where the Group had limited or no presence, alongside SES Astra in Europe and SES Americom in North America,” he added.
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