SES, SSC To Acquire Swedish NSAB

Societe Europeene des Satellites (SES), Luxembourg, is purchasing 50 percent of Nordiska Satelitaktiebolaget (NSAB), Stockholm. Swedish Space Corp. (SSC) is also increasing its ownership stake in NSAB to 50 percent, both transactions being subject to European antitrust authority approvals. SES paid US$117 million (EURO 125 million) to Teracom AB, Sweden, and TeleDanmark A/S, Denmark, to purchase their shares in NSAB. SSC, which previously owned 37.5 percent of NSAB, paid US$29.25 million (EURO 31.25 million) to buy the remaining shares in NSAB owned by TeleDanmark.

NSAB, operates three telecommunication satellites from two orbital slots, 5°W and 13°W, Sirius W, Sirius 2 and Sirius 3. NSAB is reviewing the purchase of a fourth satellite this year, capable of carrying broadband for internet delivery. However it has not been decided whether this satellite would be Ka-band capable.

NSAB’s 1999 sales totaled US$75.5 million (EURO 80.7 million), with a pretax profit of US$ 28 million (EURO 29.9 million). In recent years NSAB revenues have been growing at a rate of 40 percent annually.

US$1 = EURO 1.07
  

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