Intelsat complete buy

Serafina Holdings, an entity formed by BC Partners, Silver Lake and other equity investors, has closed its acquisition of commercial satellite operator Intelsat. Through the transaction, the equity of Intelsat Holdings was valued at about $5 billion. As part of the deal, funds associated with Apax Partners Worldwide, Apollo Management, Madison Dearborn Partners and Permira Advisers will sell 100 percent of their interests in the company.Following the closing, Intelsat’s current executives will remain in place and have an equity interest in Serafina Holdings, which is expected to be renamed Intelsat Global.Immediately following consummation of the transaction, Intelsat assumed certain debt obligations entered into by Serafina Holdings as part of the transaction, as well as refinancing some existing debt of Intelsat.

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