Hungary's 4iG acquires majority stake in Spacecom

News Video Hungary 12 OKT 2021
Hungary's 4iG acquires majority stake in Spacecom

Spacecom, the satellite services provider and owner-operator of the AMOS satellite fleet, announced that it and Hungary’s 4iG entered an agreement under which 4iG will acquire a majority stake (51%) in Spacecom, through a private share placement. The transaction of USD 68 million represents a 50 percent premium over the average USD 2.6 price per share from the last six months trading average on the Tel Aviv Stock Exchange. 

The transaction’s completion is conditioned upon approval by Spacecom’s shareholders; regulatory approvals, including Israel’s Ministry of Communications; and by other third-parties currently contracted with Spacecom. 

The transaction’s completion will strengthen Spacecom’s operations in Eastern and Central Europe and will enable additional synergies with companies within the 4iG Group. 

Categories:

Satellite

Companies:

Spacecom,  4iG

Regions:

Eastern Europe,  Europe

Countries:

Hungary,  Israel

Tags:

Production planning & operations, Satellite, Corporate strategy, M&A buyouts & divestments

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