Eutelsat wraps up acquisition of Satmex
Pascale Paoli-Lebailly | 02-01-2014
Eutelsat has finalised its acquisition of 100% of the share capital of Satélites Mexicanos, SA de CV, aka Satmex, for US$831 million, after obtaining all the required Government and regulatory approvals.
Based in Mexico, Satmex operates three satellites at contiguous positions - 113° West (Satmex 6), 114.9° West (Satmex 5) and 116.8° West (Satmex 8) - that cover 90% of the population of the Americas.
The Satmex 7 and 9 satellites that are scheduled for launch in 2015 will more than double this total in-orbit capacity.
The financing requirements regarding the acquisition are covered following the issuance on 13 December 2013 of six-year senior unsecured bonds for a total of €930 million which were secured at attractive terms.
"With the acquisition of Satmex, Eutelsat is significantly upscaling activity in the Americas to complement our strong presence in fast-growing markets. Satmex's strategic orbital slots, which will be expanded in 2015 with two further high-performance satellites, bring Eutelsat a robust platform from which to access significant opportunities in this region. They will be further complemented by the Eutelsat 65 West A satellite that we will launch in advance of the 2016 Olympic Games in Rio de Janeiro to serve video and broadband markets in Latin America," said Michel de Rosen, Eutelsat chairman and CEO.
Satmex will be consolidated in the accounts of Eutelsat Communications from 1 January 2014.