August 25, 2016
By Haridas K.
A Luxembourg-based offshoot of Beijing-based Xinwei Group has bought Spacecom of Israel (Space Communications), operators of the AMOS fleet of satellites for $285 million (€252.7m), an impressive premium of 41 percent on the stock market valuation.
In a somewhat complicated three-way transaction Spacecom will ‘merge’ with Luxembourg Space Telecommunications (itself a subsidiary of Beijing Xinwei Technology Group). Luxembourg Space Telecommunication shall acquire, by way of triangle reverse merger, the full share capital of the company.