Eutelsat acquires Satmex for £1.1 billion
01 August 2013 | Natasha Culzac
French satellite operator, Eutelsat Communications, has acquired Mexican company Satélites Mexicanos (Satmex) for $1.142 billion.
Eutelsat has confirmed its intentions to emerge as a leading player for Latin American satellite services, and the company confirmed its intentions on investing in high growth markets.
Latin America and Mexico is seen as one of the fastest growing satellite markets and the buy-out is said to reflect that, according to leading market watchers.
“With Satmex’s strategic orbital slots, state of the art fleet and upcoming satellites, Eutelsat is gaining a robust platform from which to access the significant opportunities in this region,” said Michel de Rosen, Eutelsat CEO.
The total amount includes $831 million for 100% of shares, in addition to Satmex’s reported net debt of $311 million.