Amos up for sale

December 13, 2013 11.15 Europe/London By Julian Clover

Amos MCRIsraeli satellite operator Space Com has told the Tel Aviv Stock Exchange (TASE) that it is putting its fleet of Amos Communications satellites on the market.

Local media controlling shareholder Shaul Elovitch was seeking 2 billion shekels for the company, more than double its current market value.

At this early stage TASE has been informed that the sale is only a possibility and other options are being considered. “The process review is in the earliest stages and there is no certainty that a deal will be carried out,” the company said.

JP Morgan has been hired as an advisor.

The Amos fleet currently consists of four satellites. Its primary customers include the Israeli DTH operator YES. It also has customers in Central & East Europe and Africa.