Permira’s Asia Broadcast Satellite for sale
07 July 2016 |
Permira, the UK private equity group, is looking to sell its Asia Broadcast Satellite for an asking price of $1bn
Permira, the UK private equity group, is looking to sell its Asia Broadcast Satellite, or ABS, with an asking price of $1bn.
Spain’s Hispasat and Japan’s JSAT Corp are among the reportedly in discussions with Permira which acquired ABS in 2010 for $200m.
Luxembourg-based satellite business SES is also reported to be looking at the company.
The first round of bids for ABS took place a few days ago.
There is much turbulence in the satellite market as sizeable numbers of North American satellite TV viewers have started to shift to fibre-based internet services and cable systems.
A growing number of smaller companies are disrupting the market with lower-cost, high-capacity systems. Eutelsat has warned of lower demand from broadcasters, and Inmarsat, a UK-based satellite group is finding market conditions tough as demand slows.
ABS operates a fleet of seven satellites that provide broadcast and data services covering 80% of the world’s population. Three of those satellites were deployed after Permira’s acquisition, with the most recent having launched this June.
Goldman Sachs is said to be advising Permira on the sale.
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