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Gilat Satellite Networks Ltd Announces Sale of Spacenet Subsidiary


Monday, 19 Aug 2013 04:26pm EDT 

Gilat Satellite Networks Ltd announced that it has entered into a definitive agreement to sell its Spacenet Inc. subsidiary to Tulsa, Oklahoma-based SageNet. The aggregate consideration for the sale is approximately $16 million, subject to certain post-closing adjustments and expenses. The transaction is subject to regulatory approval and the satisfaction of customary closing conditions and is expected to be completed within the next three months. The transaction is expected to result in a capital loss of $1 million to $3 million, which includes banker's fees, legal fees and other transaction related expenses. 

Company Quote

4.78
0.02 +0.42%
19 Dec 2014