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SES S.A. (Euronext Paris and Luxembourg Stock Exchange: SESG) announces that on 1 July 2016, having received all of the necessary regulatory approvals, the company exercised its call option and offered to acquire the remaining shares and warrants of O3b Networks. The other shareholders have agreed to accept the SES offer, non-tendering warrant holders will be cashed out, and completion of the transaction is expected on 1 August 2016.
SES will pay USD 730 million to directly increase its fully diluted ownership of O3b from 49.1% to 100%, using proceeds from the company’s recent equity raising. On completion, SES will consolidate USD 1.2 billion of O3b net debt and will, following completion, refinance a significant proportion of the most expensive debt facilities, using...
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