SES has confirmed that it has received all the necessary legal and commercial permits to needed to complete its acquisition of Intelsat. SES says it plans to close the $3.1 billion (€2.65bn) transaction on or around July 17th.The two companies are holding meetings this week to finalise the financial transaction. The consolidation exercise will then start to kick in. There will be a press statement imminintely, but more detail is expected on July 31st during SES’s quarterly financials.The acquisition was first announced on April 30th 2024 with the transaction having been unanimously approved by the Board of Directors of both companies and Intelsat shareholders holding approximately 73 per cent of the common shares at the time having entered into customary support agreements requiring them to vote in favour of the transaction.The combination is expected to deliver a total €2.4 billion (NPV) of synergies (85 per cent of equity consideration) with 70 per cent executed within 3 years after closing. The combined company will benefit from a gross backlog of €9 billion, annual revenue of €3.8 billion, and Adjusted EBITDA of €1.8 billion.The future trading will benefit from a probable new C-band release of spectrum to the FCC. However, any benefit from a C-band bonus payment will see the former Intelsat shareholders receive their portion of the sale.
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