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Back in 2010, private equity fund Permira helped local management buy Asia Broadcast Satellite (ABS) for around $200 million. Now it is reported that Permira is looking to exit its investment.
ABS was founded by Thomas Choi in 2006, and he is still CEO. ABS now has six satellites in orbit, and another scheduled for launch on June 10. Choi, speaking at CommunicAsia told trade magazine Space News that revenues are up 20 per cent this year. ABS is formally registered in Hamilton, Bermuda but operates from a sophisticated facility in Manila, Philippines.
This is not the first time it has been rumored that Permira was looking to sell and in 2014 similar reports emerged.