SES likes Intelsat assets
BARCELONA (Reuters) ? SES Global would be interested in buying assets that rival Intelsat may put up for sale after it takes over PanAmSat, a top executive of the Luxembourg satellite operator said on Friday.
Chief financial officer Mark Rigolle said he expected Intelsat?s private equity owners to sell off pieces to deleverage the combined company once the deal had gained regulatory approval.
?They have some slots that would help us,? he told Reuters on the sidelines of an investor conference hosted by Morgan Stanley in Barcelona.
Intelsat announced in August that it would buy PanAmSat in a deal worth $3.2 billion that would allow it to overtake SES as the world?s biggest satellite operator.
Although SES had no plans to make any big, expensive acquisitions like those that have reshaped the industry in the last two years, it would like to buy small assets to bolster its presence in some markets, Rigolle said.
?We will grow by acquisition ... if we can find suitable ones to fill certain gaps in our global coverage,? he said.
Rigolle said SES would like to own more of Germany?s ND Satcom, in which it already holds a 25-percent stake, or buy Turksat in Turkey or Greece?s Hellas Sat.
?These are by no means transformational deals that would wreck our balance sheet for five years,? he said.
Rigolle declined to comment on a report earlier in the week that SES had offered to buy rival New Skies Satellites, but he did say the small rival?s coverage of the Indian Ocean region and Latin America were of interest.