Telesat Canada, the world’s fourth largest fixed satellite services operator, and APT Satellite Company Limited, a wholly-owned subsidiary of APT Satellite Holdings Limited, announced they have closed a transaction pursuant to which Telesat has transferred its leasehold interests in Telstar 10 to APT, along with certain customer contracts related to the satellite — as announced on June 1, 2009, the total price was approximately US$69 million.

“The transfer of our interests in Telstar 10 to APT makes strong strategic sense for a number of reasons, including APT’s long-standing responsibility for the satellite’s operation, the complex regulatory environment associated with the satellite, and the upcoming requirement to replace Telstar 10,” said Dan Goldberg, President and CEO of Telesat. APT and Telesat have assured current users of Telstar 10 that they will continue to receive the same high quality services they have enjoyed to date, and both companies will endeavor to ensure a seamless and smooth transition for their customers. “The satellite, also known as Apstar 2R, is one of the leading satellites in the Asian market,” said Cheng Guangren, Executive Director and President of APT. “This agreement is the right strategic move for our company given APT’s growth plans and the attractive base of customers who rely on Apstar 2R. We look forward to serving them in the years to come and working with them to expand our presence in Asia and other satellite service markets.”