Αρχική iptv-news IDB bid for Spacecom close to conclusion

IDB bid for Spacecom close to conclusion

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It looks as if Spacecom might finally have a buyer. The Israel-based holding company IDB has put in a bid of $45.75 million for a 54.7 per cent stake in the Amos operator.

It is also willing to make a much-needed $11.45 million cash injection.

In 2016 Spacecom was negotiating a $285 million deal with China’s Beijing Xinwei Technology Group. However, the talks collapsed after the September launch pad explosion of the SpaceX Falcon 9 rocket that destroyed Amos 6.

Calcalist reports that IDB subsidiary Discount Investment Corporation, agreed to triple its initial offer for the satellite operator.

Spacecom owes $420 million to institutional creditors, including Israel’s three largest banks.

Any deal must first be approved by an Israeli District Court.



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