New Skies Satellites N.V. Seeks Approval to Transfer Control to Companies Controlled by the Blackstone Group.
On June 25, 2004, Munaro Holding B.V. (“Munaro”) and New Skies Satellites N.V. (“New Skies”) (collectively, “Applicants”) filed an application pursuant to section 310(d) of the Communications Act of 1934, as amended, seeking consent to transfer control of non-common carrier fixed satellite service earth station licenses held by New Skies Networks, Inc. (“New Skies Networks”) from New Skies to Munaro (“Transfer Application”). The Applicants also filed, under section 25.137(g) of the Commission rules, an application notifying the Commission of Munaro’s proposed acquisition of New Skies’ foreign-licensed satellites that are authorized to provide service in the United States pursuant to the Commission’s Permitted Space Station List (“Permitted List”). The Applicants request that the Commission modify the Permitted List to specify Munaro as the new owner and operator of the New Skies satellites, subject to consummation of the proposed transaction (“Notification Application”).
Interested parties may file comments regarding or petitions to deny the Applications and Petition for Declaratory Ruling no later than August 11, 2004. Oppositions or responses to these comments and petitions may be filed no later than August 23, 2004. Replies may be filed no later than August 30, 2004. All filings concerning matters referenced in this Public Notice should refer to IB Docket No. 04-247.
On June 5, 2004, Munaro and its parent, Neptune Holdings GP, entered into a transaction agreement with New Skies, whereby Neptune Holdings GP would acquire substantially all of the assets of New Skies, including its foreign-licensed satellite systems, all of the capital stock of New Skies Networks, which holds six U.S. non-common carrier earth station licenses, and all physical assets associated with those licenses. New Skies would receive its consideration under the transaction in cash, which would be distributed to its shareholders, and New Skies would be liquidated. In the alternative, the Applicants might choose to accomplish the transfer of control as follows: New Skies would create a new, wholly-owned subsidiary and transfer all of its assets and liabilities to that subsidiary, including all of the capital stock of New Skies Networks. Munaro would then acquire from New Skies all of the capital stock of the newly-created subsidiary. Munaro would merge with the subsidiary, which would cease to exist, and hold directly the stock of New Skies Networks. In either event, Applicants state, the acquisition of New Skies Networks would be accomplished via transfer of corporate control.
Day 1 was on: 7/12/04
This information was last updated on: 11/2/04
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