Inmarsat accepts USD 3.4 billion takeover bid from consortium of private equity funds

News Video Global 25 MRT 2019
Inmarsat accepts USD 3.4 billion takeover bid from consortium of private equity funds

Inmarsat has accepted the takeover bid of Triton, a consortium of private equity and investment funds. The offer values Inmarsat at USD 3.4 billion. The USD 7.21 per share bid includes USD 7.09 in cash for each Inmarsat share plus a final dividend of USD 0.12 per share. Stakeholders not eligible for the dividend will get a cash amount according to the number of Inmarsat shares held. 

Triton, made up of Apax, Warburg Pincus, the Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan Board (OTPP), said it will help Inmarsat’s goal to capitalise on growth opportunities in the satellite sector and broader telecom space. 

The new parents said Inmarsat will continue to comply with the obligations under the Public Services Agreement with IMSO, regarding the provision of the Global Maritime Distress and Safety System. The company will keep its headquarters in the UK and keep its capex at past levels.

Categories:

Satellite

Companies:

Inmarsat

Regions:

Global

Tags:

Corporate strategy, M&A buyouts & divestments

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