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SES to Take Control of O3b Networks

Friday, April 29, 2016   (0 Comments)
Posted by: SES
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Luxembourg, 29 April 2016 – SES S.A. (NYSE Euronext Paris and Luxembourg Stock Exchange: SESG) has agreed to increase its interest in O3b Networks (O3b) to 50.5% and, in doing so, will take a controlling share in the company. The transaction is subject to regulatory approvals which are expected to be completed during H2 2016. SES will pay USD 20 million to increase its fully diluted ownership of O3b from 49.1% to 50.5%, bringing its aggregate equity investment in O3b to date to USD 323 million (EUR 257 million). On completion, SES will consolidate O3b’s net debt, which is currently USD 1.2 billion. The transaction is expected to generate returns exceeding SES’s hurdle rates for infrastructure investments.

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