EchoStar to acquire Satmex
March 2, 2010
EchoStar Satellite Services and Satelites Mexicanos have confirmed EchoStar will acquire an ownership interest in Satmex. Satmex is Mexico’s leading satellite operator and delivers video, audio and data services to the Americas. MVS Comunicaciones, one of the largest media and telecommunications companies in Mexico and EchoStar’s partner in the Mexican direct-to-home TV service Dish Mexico, will also participate in the ownership of Satmex through a joint venture with EchoStar. Together, EchoStar and MVS Comunicaciones will acquire all of the outstanding stock of Satmex.
Satmex will be acquired for approximately $267 million in cash, plus up to $107 million in cash on Satmex’s balance sheet at closing, resulting in total cash of up to $374 million available for distribution to Satmex’s stakeholders.
Established in the mid 1980s as part of a government operation before becoming a commercial organisation, Satmex owns and operates three satellites and two satellite uplink facilities.