Eutelsat Communications has confirmed closure of the transaction to acquire 100 per cent of the share capital of Satélites Mexicanos (Satmex) having obtained all required government and regulatory approvals. The transaction amounts to $831 million.
Welcoming the completion of the transaction, Michel de Rosen, Eutelsat Chairman and CEO, said: “With the acquisition of Satmex, Eutelsat is significantly upscaling activity in the Americas to complement our strong presence in fast-growing markets. Satmex’s strategic orbital slots, which will be expanded in 2015 with two further high-performance satellites, bring Eutelsat a robust platform from which to access significant opportunities in this region. They will be further complemented by the Eutelsat 65 West A satellite that we will launch in advance of the 2016 Olympic Games in Rio de Janeiro to serve video and broadband markets in Latin America. We are delighted to welcome the Satmex team to Eutelsat and to strengthen our response to commercial opportunities with a broader range of satellites and teleports, a wider footprint and an expanded wealth of talent in our Group.”
Satmex will be consolidated in the accounts of Eutelsat Communications as of January 1st 2014. The impact of the acquisition on the Group’s financial outlook will be communicated at the latest with first-half 2013-2014 results that will be announced on February 14th 2014.
Based in Mexico, Satmex operates three satellites at contiguous positions, 113° West (Satmex 6), 114.9° West (Satmex 5) and 116.8° West (Satmex 8) that cover 90 per cent of the population of the Americas. The Satmex 7 and 9 satellites that are scheduled for launch in 2015 will more than double this total in-orbit capacity.