Un consortium comprenant Ontario Teachers' fait une offre recommandée en numéraire pour Inmarsat plc
TORONTO – Ontario Teachers' Pension Plan (Ontario Teachers') is part of a consortium, which includes funds advised or managed by Apax Partners, Warburg Pincus and Canada Pension Plan Investment Board (CPPIB), which has formed Triton Bidco to acquire Inmarsat (the "Acquisition").
Triton Bidco has reached agreement with the Board of Inmarsat on the terms of a recommended cash offer by Triton Bidco to acquire the entire issued and to be issued share capital of Inmarsat (the "Inmarsat Shares"). The transaction is subject to shareholder and regulatory approvals.
Inmarsat is a leading provider of mobile satellite services, providing data and voice connectivity to end-users worldwide, with 40 years of experience in designing, launching and operating satellite-based networks. Inmarsat has an in-orbit fleet of 13 owned and operated satellites in geostationary orbit and provides a comprehensive portfolio of global mobile satellite communications services for customers on the move or in remote areas for use on land, at sea and in the air.
Triton Bidco believes the satellite sector's unique characteristics – long lead times and the need for deep technical expertise – make it attractive, but it is also a sector requiring strategic management and a long investment horizon. Triton Bidco believes that integrated satellite operators with scale like Inmarsat are well positioned as network provision becomes more complex.
Full details of the offer are included in the formal announcement which can be found here [https://inmarsatbidcoinfo.com/]
This announcement is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, subscribe for, otherwise acquire, sell or otherwise dispose of any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Acquisition or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. This announcement does not constitute a prospectus or a prospectus equivalent document.
The availability of the offer to acquire Inmarsat Shares pursuant to the Acquisition to Inmarsat shareholders who are not resident in and citizens of the United Kingdom or the United States may be affected by the laws of the relevant jurisdictions in which they are located or of which they are citizens. Persons who are not resident in the United Kingdom or the United States should inform themselves of, and observe, any applicable legal or regulatory requirements of their jurisdictions as failure to comply with such restrictions may constitute a violation of security laws of any such jurisdiction. To the fullest extent permitted by applicable law, the persons and companies involved in the Acquisition disclaim any responsibility for liability for the violation of such restrictions by any person.
About Ontario Teachers'
The Ontario Teachers' Pension Plan ("Ontario Teachers'") is Canada's largest single-profession pension plan, with $193.9 billion in net assets at June 30, 2018. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an average annualized rate of return of 9.9% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 323,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
Senior Manager, Investment Communications
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