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PSP Investments And Loral Complete The Acquisition Of Telesat
Montreal, Canada (SPX) Nov 02, 2007 Canada's Public Sector Pension Investment Board (PSP Investments) announces the closing of the acquisition of Telesat Canada for CAD $3.25 billion combining substantially all of the assets of Loral Skynet Corporation ("Loral Skynet") to the new expanded Telesat Canada ("Telesat"). Telesat which is now the fourth largest fixed satellite services provider in the world, continues to operate under the name of Telesat and be headquartered in Ottawa. As a result of this acquisition, Telesat now has a global state-of-the-art fleet of 12 satellites, three additional satellites under construction, and a robust global teleport and fiber infrastructure that Telesat has seamlessly integrated with its satellite fleet to provide users with a range of advanced network solutions. "By bringing together Telesat Canada and Loral Skynet, two of the preeminent satellite companies in our industry, we have created a powerful new global operator with world-class satellites, comprehensive terrestrial facilities, and a deeply dedicated and experienced team of satellite professionals," said Dan Goldberg, President and CEO of Telesat. Gordon J. Fyfe, PSP Investments' President and CEO, stated, "PSP's private equity investment in Telesat is a continuation of PSP's Private Equity strategy of active direct investment worldwide. We have worked closely with management teams as well as our Private Equity fund partners. PSP supports the Telesat management team and the strategy for the company". Related Links The latest information about the Commercial Satellite Industry
Malaysia to build own communications satellite: reports
Kuala Lumpur (AFP) Oct 24, 2007Malaysia's government will build its own communications satellite, to be used for internal security and defence purposes, reports said Wednesday. |
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