Having previously taken control of the O3b Networks Medium Earth Orbit (MEO) communications satellite constellation by adding enough shares to achieve a majority holding of 50.5%, the global geostationary earth orbit communications satellite operator, SES, has decided to buy out the rest of the firm’s shares for US$710 million. This cancels the plan to offer the firm up via an Initial Public Offering (IPO). As part of the deal, SES will also pay off some of O3b’s high-cost debt amounting to US$300 million, leaving the O3B firm with borrowings of US$900 million.
SES decides to buy all of O3b
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