Spacecom sold for $285m

Upon the completion of the merger, the company shall become a private company fully owned by Beijing Xinwei technology group.

Big Bird Ltd israeli Spacecom Telecommunications Xinwei Group

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.

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