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Intelsat buys PanAmSat to create the operating major of satellites

The company of Intelsat telecommunications, with soothes in Bermuda, authenticates an agreement to buy the PanAmSat North American by 3,200 million dollars (2,600 million Euros)


The operation, that was the past presented/displayed month of August like a fusion project, picks up the payment of 25 dollars by each action of PanAmSat and counts already on the approval of the advice of administration of both parts, informs Ep. Once completed the fusion, the resulting company will become the world-wide leader in provision by satellite of video, corporative data and solutions for communications of governments.

The shareholders of PanAmSat will in the last pocket a premium of 40% with respect to the average price of the titles six months, and will be able to continue receiving dividends until the end of the operation.

The resulting company delay to reach income of more than 1,900 million dollars (1,540 million Euros) and to accumulate a considerable amount of cash to make against expenses and debt. According to the terms in the agreement, Intelsat will acquire all the ordinary actions of PanAmSat and will assume part of its debt and the one of its subsidiaries, until completing the payment of 2,600 million. Until the moment, the shareholders, who count on 58% of the acquired one, have accepted the agreement.

The new society will offer to its clients a network of cover of satellites supported by fiber structure and operating systems, with capacity to respond to needs of television networks and radio, of companies, governments and consumers. Altogether, Intelsat will control 53 satellites, with cover in more than 220 countries and territories, which will allow to have him clients not only in the industrialized countries more, but also in the emergent ones.


(06-09-05)

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