Permira's new investment makes the firm majority owners of ABS.
* Permira and the existing management of satellite operator Asia Broadcast Satellite have bought the company in a deal worth about $200 million.
* Citi Venture Capital International, Asia Debt Management Capital and other small shareholders have sold ABS, which supplies bandwidth connectivity to broadcasting and telecom customers. Citi Venture acquired a majority stake in the company in 2006.
* Permira will own a majority stake in the company that has three satellites in orbit serving 80 customers in 30 countries across south-east Asia, the former Soviet republics, the Middle East and Africa.
* ABS is planning expansion via strategic alliances, acquisitions and by building its own satellites.
Permira, a UK private equity firm, has previously made investments in two other satellite companies, Inmarsat and — until 2008 — Intelsat. It is also a member of the consortium that owns Danish operator
* European private equity firm, Permira, pairs off with Asia Broadcast Satellite (ABS) to acquireKingsbridge Limited for an undisclosed amount. The new addition is solely equity funded and makes the firm majority shareholders of ABS.
* ABS' former shareholders since 2006, Citigroup Venture Capital International Proprietary Investment Partnership, L.P. and Citigroup Venture Capital International Co-Investment, L.P. (collectively, the “CVCI Shareholders”), agreed to sell their interests in Kingsbridge, along with ADM Capital and additional shareholders.
* The extra capital will help ABS continue its growth efforts in its existing markets of Asia, Russia, Africa and the Middle East. ABS, which was founded in 2006, supplies bandwidth connection to broadcasting and telecommunication customers to 80 customers within 30 countries. Kingsbridge, the holding company for ABS, is considered to be the fastest growing premium satellite operator worldwide.
* ABS has three of its satellites in orbit with one that is co-branded with a third party and two more in the new satellites in the making which is set to launch in 2013. It's orbital locations covers 80% of the worlds population.
* ABS will make the third investment in Asia for Permira since 2007. In 2007 it acquired casino and hotel operator, Galaxy Entertainment, and a year later it acquired ceramic tiles producer and distributor,Marazzi.
* The firm has made a number of purchases in the satellite sector, including its 2003 investment of Inmarsat, a leading provider of global mobile satellite communications services and its 2005 deal in Intelsat, a leading provider of fixed satellite services worldwide. The firm backed Inmarsat with the acquisition of Panamsat and also fueled the company with extra cash to design, launch and manufacture its I-4 fleet of satellites.
* Skadden is representing Permira on the transaction with Allison Schneirov and Mark Smith as the lead from the New York office.
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