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Apax Partners France buys Telenor Satellite Services for $400 million.(TOP NEWS)
- Article from:
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Wireless Satellite and Broadcasting Newsletter
- Article date:
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October 1, 2006
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Copyright informationCOPYRIGHT 2006 Information Gatekeepers, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On October 25, 2006, Telenor entered into a definitive agreement with Apax Partners France for the sale of Telenor Satellite Services (TSS) to funds managed by Apax Partners for a cash consideration of US$400 million (NOK 2,640 million). Since 2002 Telenor has defined Telenor Satellite Services as non-core business. Apax Partners intends to pursue the development of the company in Norway and abroad.
Telenor Satellite Services offers communication solutions via satellite to land, air, and sea. The transaction will not impact the services provided by TSS and business relations with customers will remain unchanged.
"Apax Partners is a very capable owner, and the sale of ...