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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, 5W and 13W, 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.

NSABs 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
  


Copyright 2001 - Andrews Space & Technology
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SPACEandTECH Digest is a weekly roundup of the latest industry news of interest to the space professional. SPACEandTECH Flash! is an internet push service offered by Andrews Space & Technology to bring the latest on orders, launches, and important breaking news to your desktop. SPACEandTECH Digest and SPACEandTECH Flash! are part of the Andrews Space & Technology www.spaceandtech.com website, a website designed to serve the information needs of the space industry.

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July 31, 2000

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