SES INCREASES OWNERSHIP IN SES SIRIUS TO 90 PERCENT
31 Jan, 2008
Betzdorf, Luxembourg, 31 January 2008 – SES, the pre-eminent satellite operator worldwide (Euronext Paris and Luxembourg Stock Exchange: SESG), and Swedish Space Corporation (SSC), announced today that SSC, under an existing agreement, has exercised a ‘put option’ transferring to SES ASTRA an additional 15 percent equity stake in SES SIRIUS. The transaction increases SES’ existing shareholding interest in SES SIRIUS from 75 to 90 percent.
SES has been a shareholder in SES SIRIUS since October 2000, and the SIRIUS satellites are integrated into SES’ global fleet of 38 satellites. Financial terms for the exercise of the existing option were not disclosed.
“Working through our SES ASTRA organization, we have been able to maximize the value of the SES SIRIUS assets through greater synergies between the ASTRA and SIRIUS satellites,” said Romain Bausch, President and CEO of SES. “This has resulted in a stronger market presence for SES over Scandinavia and Europe, to the benefit of customers in those regions. We have had an excellent relationship with SSC, and look forward to continuing to work closely with them in the future.”
In addition to retaining a 10 percent interest in the SIRIUS satellites, SSC will continue to provide network operations, satellite control, telemetry, and tracking and control (TT&C) service to the SES SIRIUS satellites.
Lars Persson, President and CEO of Swedish Space Corporation, stated: "This transaction provides SSC with opportunities to pursue also other business opportunities and was already foreseen when SES acquired a majority stake in SIRIUS four years ago. SSC will continue to work in close co-operation with SES SIRIUS and the SES Group in the telecom satellite area."
For further information please contact:
Mark Roberts
Investor Relations
Tel. +352 710 725 490
Mark.Roberts@ses.com
Yves Feltes
Media Relations
Tel. +352 710 725 311
Yves.Feltes@ses.com
About Swedish Space Corporation (SSC)
Swedish Space designs, tests, launches and operates space and aerospace systems. Our operations are carried out within four business units located in Stockholm, Kiruna and Vidsel. At our facility in Stockholm, we develop satellites, space vehicle subsystems and payloads for sounding rockets as well as airborne systems for maritime surveillance. We also own Stockholm Teleport, a ground station for satellite communication services. At Esrange Space Center, east of Kiruna, we launch sounding rockets and balloons and from here we also operate one of the world's busiest civilian satellite ground stations. In addition we are involved in testing various air and space vehicles through the North European Aerospace Test range - NEAT at Vidsel Test Range, RFN.
Swedish Space owns the German company LSE, which provides engineering and satellite operation services and the Swedish companies ECAPS, which develops and manufactures "green" propulsion systems and NanoSpace, which develops micromechanical systems for space applications. Swedish Space is also a part-owner of SES SIRIUS, which distributes television and offers other telecommunication services on its Sirius satellites. Additional information at www.ssc.se
About SES
SES (Euronext Paris, Luxembourg Stock Exchange: SESG) wholly owns three market-leading satellite operators, SES ASTRA in Europe, SES AMERICOM in North America, and SES NEW SKIES, which provide global coverage and connectivity. The Company also holds 90% in SES Sirius in Europe as well as strategic participations Ciel in Canada and Quetzsat in Mexico. SES provides outstanding satellite communications solutions via a fleet of 38 satellites in 25 orbital positions around the globe. Additional information on SES is available at: www.ses.com
