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Paul, Weiss Advises AsiaSat in Disposal of Interest in SpeedCast Holdings Limited

27 September, 2012

 

 

Asia's leading satellite operator to continue to be a significant supplier of satellite capacity and technical services for SpeedCast.
 
Paul, Weiss client, Asia Satellite Telecommunications Company Limited ("AsiaSat") disposed of its entire interest in SpeedCast Holdings Limited ("SpeedCast"), the Hong Kong-based network and satellite communications service provider, to SpeedCast Acquisitions Limited, which is owned by leading global private equity firm, TA Associates.
 
SpeedCast has used AsiaSat's satellite capacity for the provision of satellite-based broadband services for over a decade. The transaction aims to  facilitate SpeedCast's development into a leading provider of global network and satellite communications services.  AsiaSat will continue to be a significant supplier of satellite capacity and technical services for the VSAT operator. The proceeds from the non-core asset disposal will be used by AsiaSat to further develop its core business providing over two-thirds of the world's population with its four satellites. A further two new satellites, AsiaSat 6 and AsiaSat 8, are planned to be launched in the first half of 2014.
 
The Paul, Weiss team advising AsiaSat on the transaction included partner Jeanette Chan, counsel Corinna Yu and associate Sue Yang.
 
For further information, please contact:
 
Samantha Jayawardane, Paul, Weiss, Rifkind, Wharton & Garrison
sjayawardane@paulweiss.com
 
 

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