Inmarsat Global Xpress

The supplier of global satellite communication services to the shipping industry, Inmarsat, of London, has accepted a $3.4bn takeover bid from a consortium led by Apax Partners.

It is to be acquired by the newly-formed Triton Bisco consortium, composed of the private equity investment group Apax Partners, the US- based Warburg Pincus and the Canadian Pension Plan Investment Board and the Teachers Pension Plan Board.

The deal is due to become effective in the last quarter of this year, and the new owners said the headquarters of Inmarsat will continue to remain in the UK.

Triton Bisco said: “It would ensure Inmarsat complies in full with the obligations under the Public Services Agreement with the International Mobile Satellite Organisation in respect of the provision of the Global Maritime Distress & Safety System.”

More on this and other news in Sea Breezes Magazine - June 2019 Issue
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