SES announced a capital increase to fund the acquisition of the remaining shares in O3b Networks from the 49.5% current participation. The company will sell 39.86 million new fiduciary depositary receipts (FDRs, each corresponding to one Class A share) and 19.93 million new class B shares (owned by the Luxembourg government). The proceeds will be used to fund the acquisition of the remaining stake ($730m) and repay ~$300m of O3b’s most expensive debt facilities. On completion, SES will
27 May 2016
Capital increase to fund the acquisition of the remaining O3b shares
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Capital increase to fund the acquisition of the remaining O3b shares
SES SA FDR (Class A) (SESG:PAR) | 0 0 4.1% | Mkt Cap: 5,372m
- Published:
27 May 2016 -
Author:
Myriam Cohen -
Pages:
3
SES announced a capital increase to fund the acquisition of the remaining shares in O3b Networks from the 49.5% current participation. The company will sell 39.86 million new fiduciary depositary receipts (FDRs, each corresponding to one Class A share) and 19.93 million new class B shares (owned by the Luxembourg government). The proceeds will be used to fund the acquisition of the remaining stake ($730m) and repay ~$300m of O3b’s most expensive debt facilities. On completion, SES will