20 Jun 07. BC Partners, the UK private equity firm, on Tuesday announced the purchase of Intelsat for about $16bn, including debt, after outbidding several strategic buyers in a heated auction for the Bermuda-based fleet of satellites. BC’s victory in the auction shows buy-out groups continue to be aggressive buyers even as debt financing becomes more expensive on the back of a rise in
Treasury yields. BC edged out offers from other private equity groups as well as Loral, the New York-based satellite group, and a joint bid by Liberty Media and EchoStar Communications. The deal marks BC’s largest acquisition outside Europe. While US private equity groups have expanded significantly in Europe and Asia in recent years, European buy-out groups have been slower to make investments in the US. But Apax Partners and Permira Advisors – and now BC Partners – are showing an increasing willingness to clinch deals outside their home market. BC would pay about $5bn in equity and $11bn in assumed debt for Intelsat, people familiar with the matter said. (Source: FT.com)
20 Jun 07. On April 23, Rohde & Schwarz took over Arpège SAS. The French company is headquartered in Aubagne near Marseilles and has been active in the field of radiomonitoring systems for 17 years. The Radiomonitoring and Radiolocation Division of Rohde & Schwarz has been closely cooperating with Arpège SAS since 2004, with R&D in the area of satellite monitoring as the main focus of cooperation. “The integration of Arpège SAS into the Rohde & Schwarz group of companies was the next logical step”, said Gerhard Geier, Head of Radiomonitoring and Radiolocation Division. In future, about 30 employees from Arpège SAS will develop and implement customer-specific systems in the areas of satellite monitoring and lawful interception (radiomonitoring by law enforcement authorities) under the auspices of Rohde & Schwarz GmbH & Co. KG. Rohde & Schwarz will thus round out its existing product portfolio and strengthen its market position in this area. Arpège SAS will remain a stand-alone company under French management. Expansion of the workforce in Aubagne is planned. Within the Rohde & Schwarz corporate group, the company will fulfill its obligations toward existing customers. The integration of Arpège SAS into the Munich-based electronics company will give it access to state-of-the-art technologies as well as to the worldwide sales network of Rohde & Schwarz.
20 Jun 07. Lockheed Martin Corp will set up a company with Abu Dhabi’s Mubadala Development Co to invest in military aerospace services in the Middle East. The new company will create units to maintain, repair and provide engineering and technical support for aircraft, Waleed al-Mokarrab al-Muhairi, the chief operating officer of state-owned Mubadala, said in an e-mail yesterday. Abu Dhabi is attracting investment as the economy diversifies away from oil. Mubadala, with interests from aluminum to Formula One, is building stakes in the aerospace industry. The company on Monday signed an agreement with Boeing Co to help develop an aerospace strategy. The Lockheed venture will service various aircraft types. “We see an opportunity in creating sustainment programmes across several platforms, such as the F16 Block 60 Desert Falcon, C-130 Hercules, Mirage 2000, Haek and PC7,” al-Muhairi said in the statement.
22 Jun 07. Saab enters long-term collaboration in Norway. After an invitation from the Norwegian government and Norwegian industry, Saab has decided to go in as a shareholder (7.5 percent) in the newly created holding company Aker Holding AS. Saab’s investment amounts to NOK 1.2 Billion. With a holding of 40.1 percent, Aker Holding AS is the majority shareholder in the industrial group Aker Kvaerner ASA. “We are delighted to be able to take an active role in a wider collaboration between Norwegian and Swedish industry. It is our ambition to develop more collaboration in Norway within areas of industry where Saab has ex