March 25, 2019 / 7:22 AM / a month ago

Private equity-led consortium to buy Inmarsat for $3.4 bln cash

March 25 (Reuters) - A private equity-led consortium on Monday agreed to buy British satellite operator Inmarsat for about $3.4 billion in cash.

The consortium, which includes UK-based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan Board, said Inmarsat will receive $7.21 in cash per share.

The $7.21 cash offer represents an almost 45 percent premium to Inmarsat’s close on Feb. 27, the day before media reports said U.S. satellite group EchoStar was expected to renew its interest in the company. (Reporting by Justin George Varghese in Bengaluru; Editing by Bernard Orr)

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