New Skies for SES

SES Global is to acquire New Skies Satellites in a deal worth $1.6 billion, including $760 million of shares and a $400 million debt write-off. New Skies’ five satellites and a sixth to be launched in 2006 will be used to complement existing SES services to India, the Middle East, Africa and Latin America. The deal positions SES Global to better compete with Intelsat, which earlier this year bought PanAmSat for $3.2 billion.

Source: Flight International