Intelsat holds talks with private buyers

8 Jun 2004

Bermuda-based satellite services company Intelsat is reported to be in buyout talks with a group of private financial investors over a deal which could be worth as much as USD5 billion. The announcement comes in the wake of the company’s decision to abandon plans for a listing two weeks ago and follows a recent trend of consolidation in the global satellite sector. In the last six months private equity groups including Intelsat have been involved in deals worth in excess of USD10 billion. Last December, Permira and Apax Partners acquired UK-based Inmarsat for USD1.54 billion, while in April this year KKR paid USD3.5 billion for PanAmSat, the largest commercial satellite operator in the US.

Bermuda, Inmarsat, Intelsat