|Enhanced synergies through full strategic and organizational integration of NSAB's SIRIUS satellite system into the fleet of SES GLOBAL Swedish Space Corporation to retain 25% stake in NSAB|
SES GLOBAL S.A. (Luxembourg and Frankfurt Stock Exchanges: SESG), the world's premier satellite operator, and Swedish Space Corporation (SSC), announce that they have entered into a definitive agreement whereby SES GLOBAL increases its existing interest in Sweden's Nordic Satellite AB (NSAB) from 50% to 75%, by acquiring an additional 25% stake from SSC. Financial terms of the transaction, which is expected to close on February 2nd, 2004, were not disclosed.
By increasing its interest in NSAB, SES GLOBAL intends to benefit from enhanced synergies between its European ASTRA satellite system and NSAB's SIRIUS satellites, whilst the legal, corporate and brand identity of NSAB-SIRIUS will continue to be maintained. SES has been a 50% stakeholder in NSAB since October 2000.
Commenting on the transaction, Romain Bausch, President and CEO of SES GLOBAL said: "With the full strategic and organizational integration of the SIRIUS satellites into the SES GLOBAL fleet, whilst maintaining the integrity of NSAB, SES is committed to further optimize its existing orbital assets over Europe and to coordinate fully the ASTRA and SIRIUS sales and marketing activities as well as their proven expertise to the benefit of their respective customers."
In the context of the transaction, the parties have also concluded a new shareholders agreement whereby Swedish Space Corporation will retain a 25% interest in NSAB and, under a new Technical Services Agreement, will continue to provide Network operations as well as Satellite Control, Telemetry, Tracking & Control (TT&C) services to the SIRIUS satellites.
Claes-Goran Borg, CEO of SSC, states: "The integration of NSAB's SIRIUS satellite system into the world's largest satellite operation, coupled to fully concerted sales, marketing and technological development efforts amongst NSAB and ASTRA, provides new impetus to NSAB as a leading Nordic satellite operator with strong Swedish roots in an industry prone to further consolidation on an international scale."
About SES GLOBAL
SES GLOBAL, the world's premier satellite company, was born out of the combination of ASTRA, Europe's leading provider of satellite capacity for direct-to-home reception, and AMERICOM, one of America's leading Fixed Satellite Services operators. SES ASTRA and SES AMERICOM are the operating companies of SES GLOBAL. The Company also owns strategic holdings in first-class regional satellite service providers, which are SES GLOBAL partner companies, including AsiaSat in Asia, Star One and Nahuelsat in Latin America, and NSAB in Europe. Approximately 95 percent of the world's population live within the footprints of the SES GLOBAL satellite network comprising 41 satellites covering the globe. In addition, SES GLOBAL is a shareholder in satellite technology companies SATLYNX, Gilat Satellite Networks Ltd. and ND Satcom. SES GLOBAL shares are listed on the stock exchanges in Luxembourg and Frankfurt (SESG). Additional information is available on our website www.ses-global.com
Swedish Space Corporation's main areas of business are:
Launch and operations of space systems
Since the very start of NSAB activities in 1983 Swedish Space Corporation (SSC) has played an active role in developing the business of NSAB. SSC is responsible for essential parts of the NSAB operations, including frequency management, satellite procurement and satellite control. SSC however also provides satellite ground station services on a global basis. Together with the US company Universal Space Network, where SSC is one of the owners, SSC has established Prioranet, the first commercial network of satellite ground stations with a global coverage. Stockholm Teleport, a commercial space telecommunications hub, is a recent addition to the services offered by SSC.
From its base Esrange SSC provides full-service launch operations of sounding rockets and stratospheric balloons since decades. Esrange is located at very high latitude, but still has favourable conditions with regard to climate and infrastructure.
Design and development of space systems
Through the SMART-1 contract SSC has taken the step from being a national provider of scientific satellite platforms to becoming the first small European company to qualify as a supplier to ESA for an entire satellite. SSC is therefore in a good position to support the NSAB procurement of future satellites. SSC also provides sounding rocket systems and scientific payloads.
SSC is a state-owned limited company with operations in the Stockholm and Kiruna areas. Additional information about SSC can be found at: www.ssc.se
About Nordic Satellite AB (NSAB)
NSAB owns and operates the SIRIUS satellite system at the orbital position of 5degree East. The SIRIUS satellite system currently consists of two geostationary satellites, SIRIUS 2 and SIRIUS 3, with a total of 47 Ku-band transponders (41 for Broadcast Satellite Services and 6 for Fixed Satellite Services). The SIRIUS satellites provide cost effective, flexible communication solutions in Europe for TV and radio broadcasting as well as broadband services (Internet connections, IP multicasting and VSAT links). The high power transponders of the satellites enable reception with small parabolic antennas (diameter 60 cm) in most parts of Europe.
In addition to providing transponder capacity, NSAB also offers complementary technical services such as uplinking, multiplexing, encoding and encrypting. NSAB provides customers a complete solution with turnkey and value-added services such as equipment supply and user handling.
NSAB was established in 1983 and is based in Stockholm, Sweden. To meet the increasing demand for satellite services in Eastern Europe NSAB established a representation office in Kiev, Ukraine, in January 2000 and a subsidiary in Riga, Latvia in 2002.
Additional information about NSAB can be found at: www.nsab-sirius.com