Trio eye Optus Satellite as sale gets underway

29 May 2013

Private equity firms KKR and Carlyle Group are said to be among the companies considering bidding for the Australian satellite business of Singapore Telecommunications (SingTel), according to Reuters. Citing people familiar with the matter, the report also names France’s Eutelsat Communications as another potential bidder, with all three of the aforementioned companies said to have lined up banks to work with during the auction of Optus Satellite. SingTel is understood to have sent out financial information to would-be buyers earlier this week, and a first round deadline of 14 June 2013 has been set.

The development follows reports in March 2013 that SingTel had selected Morgan Stanley and Credit Suisse banks to play the lead role in a review of Optus Satellite, ahead of a possible sale of the unit. SingTel is said to have valued the subsidiary at around AUD2 billion (USD1.93 billion).

Australia, Eutelsat Communications, Optus, Singtel Group