OCTOBER 2013

Transactions

131

EUtELSat coMMUnIcatIonS to acqUIRE SatMEX

Eutelsat communications (Euronext Paris: EtL) has reached an agreement to acquire 100% of Satélites Mexicanos, S.a. de c.v. (“Satmex”) for an enterprise value of US$1,142 million. this acquisition, together with the recently ordered EUtELSat 65 West a satellite, will position the Group as a major satellite operator in Latin america, reflecting its strategy to expand in high growth markets.

Michel de Rosen, Eutelsat CEO, said: “The acquisition of Satmex, together with the order announced yesterday of our satellite for 65° West will make Eutelsat a key operator in vibrant digital markets across Latin America. With Satmex’s strategic orbital slots, state of the art fleet and upcoming satellites, Eutelsat is gaining a robust platform from which to access the significant opportunities in this region. Via these two strategic steps, we are significantly upscaling our presence in Latin America to complement our footprint in fast-growing markets, and securing future sources of growth and value creation.”

Patricio Northland, CEO of Satmex, added: “This is a very positive outcome for the shareholders and other stakeholders of Satmex, and I am delighted at the prospect of Satmex joining the Eutelsat Group. Our fleet will provide Eutelsat with a unique strategic opportunity to enter the fast-growing Latin American market and obtain premier orbital locations across the continent. Our clients will benefit from the integration of our network into Eutelsat’s world-class satellite fleet and operations. This transaction would not have been possible without the dedication and leadership of Satmex’s management team, as well as its world-class employees." LM

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 SERtEc RaISES £5M FRoM

LLoYdS BanK to SUPPoRt EXPanSIon

Sertec, a supplier of automotive parts is set to expand its business further with the help of a £5 million funding package from Lloyds Bank. this takes the business’ funding facility with the bank to over £19 million in total.

According to TheBusinessDesk.com, Martyn Hughes, Group Finance Director at Sertec, said: “Over the last 50 years, we have prided ourselves on expanding Sertec’s capabilities in the provision of world class automotive manufacturing facilities to our global customer base. In recent years, we have experienced particularly buoyant demand for our specialist presswork and stampings operations and this has led to further investment in our business.

“Chris Pennick and the team at Lloyds Bank have a sound understanding of the mechanics of our business, and have responded to our needs by introducing local Trade Director Terry Richardson. He has worked closely with us to develop this trade finance solution, in spite of the widely reported difficulties of raising finance in the current climate."

Sydney Mitchell LLP has been advising and supporting Sertec and its management in the continued expansion of its business. Div Singh leads the Sertec team within the firm. LM

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Satmex

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