Inmarsat deal wrapping up
September 19, 2019
By Chris Forrester
The ‘BidCo’ purchase of Inmarsat is close to wrapping up with no objections from any of the regulatory bodies.
The ‘BidCo’ consortium, which comprises investment funds from Apax and Warburg Pincus as well as pension funds CPPIB and OTPP, said that on September 16th the US Department of Justice (DOJ) advised the Federal Communications Commission (FCC) that, subject to certain limited conditions, Team Telecom (a collection of representatives from the US Department of Homeland Security, the DOJ, and the US Department of Defense assigned to review foreign investments in US communications assets) has no objection to the FCC granting the applications sought in respect of the Acquisition.
“BidCo would therefore anticipate that the FCC will complete its review of the relevant applications in the near future,” said a statement on September 18th.