SES Global to Acquire New Skies Satellites for €1 Billion

Amsterdam -- Luxembourg-based SES Global, the largest satellite
group in the world, announced that it has agreed to acquire Dutch rival
New Skies Satellites, the world's fifth-largest satellite group, for
approximately €1 billion. Under the terms of the deal, still subject to
regulatory approval, SES will pay about €636 million in cash and
assume about €335 million of New Skies debt. SES, which counts
U.K.-based broadcaster BSkyB among its clients, said the acquisition
would fill gaps in its coverage in Latin America, the Middle East, India
and Africa. SES currently broadcasts to more than 200 million
households worldwide.
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