Hong Kong – A company backed by the Permira funds, along with the Asia Broadcast Satellite (ABS) management team, has reached an agreement to acquire Kingsbridge Limited, the holding company for ABS, one of the fastest growing premium satellite operators in the world. The Permira funds will become the majority shareholder of ABS. The acquisition of ABS is entirely equity funded. The Permira funds support ABS’ ambition to become a leading satellite operator in its target markets. One of its key near-term initiatives is to build and launch the new ABS-2 satellite, which will be one of the largest fixed service satellites to be launched over the Eastern Hemisphere. The Permira funds have significant experience in the satellite sector, having previously made successful investments in Inmarsat, a leading provider of global mobile satellite communications services (2003) and Intelsat, the leading provider of fixed satellite services worldwide (2005). At Inmarsat, the Permira funds backed substantial investment in technology through the financing of the design, launch and manufacture of the I-4 fleet of satellites, the most advanced commercial mobile communications spacecraft of their kind. While at Intelsat, the funds facilitated the successful acquisition of Panamsat and the pursuit of new growth opportunities. Citigroup Venture Capital International Proprietary Investment Partnership, L.P. and Citigroup Venture Capital International Co-Investment, L.P. (collectively, the CVCI Shareholders), which have been the majority shareholders of ABS since 2006, agreed to sell their respective interests in the holding company of ABS, along with ADM Capital and certain other shareholders, subject to the terms and conditions of the share purchase agreement dated 9 September 2010. Terms of the deal were not disclosed. The acquisition of ABS marks the Permira funds’ third investment in Asia since 2007.