Hong Kong, 24 September 2012 – Asia’s leading satellite operator, Asia Satellite Telecommunications Company Limited (AsiaSat) announced today that it has signed an agreement with SpeedCast Acquisitions Limited for the disposal of its entire interest in its wholly owned subsidiary, SpeedCast Holdings Limited (SpeedCast).
Since its inception in 1999, SpeedCast has used AsiaSat’s satellite capacity for the provision of satellite-based broadband services and is currently offering high-quality managed network services in more than 30 countries throughout Asia, the Middle East and Africa. Following the conclusion of the transaction, AsiaSat will continue to be a significant supplier of satellite capacity and technical services for SpeedCast.
William Wade, President and Chief Executive Officer of AsiaSat said, “As a founding shareholder of SpeedCast, we are proud to have helped facilitate SpeedCast’s development into a leading provider of global network and satellite communications services. We believe the disposal of this non-core asset will benefit SpeedCast’s long term growth while offering an attractive opportunity for AsiaSat to realise its investment in this successful business. The proceeds from the disposal will serve as general funds for further growth of our core business.”
SpeedCast Acquisitions Limited is 100% owned by TA Associates, a leading global growth private equity firm.
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About AsiaSat
Asia Satellite Telecommunications Company Limited (AsiaSat), the leading regional satellite operator in Asia, serves over two-thirds of the world’s population with its four satellites, AsiaSat 3S at 105.5ºE, AsiaSat 4 at 122ºE, AsiaSat 5 at 100.5ºE and AsiaSat 7. The AsiaSat satellite fleet provides services to both the broadcast and telecommunications industries. Some 500 television and radio channels are now delivered by the company’s satellites offering access to over 620 million TV households across the Asia-Pacific region. AsiaSat also provides telecommunications operators and end users services such as voice networks, private VSAT networks and broadband multimedia. AsiaSat’s latest satellites, AsiaSat 6 and AsiaSat 8, are planned to be launched in the first half of 2014. It is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1135). For more information, please visit www.asiasat.com.
Media Inquiries:
Asia Satellite Telecommunications Company Limited
Sabrina Cubbon, Vice President, Sales and Marketing
Tel : (852) 2500 0899
Mobile : (852) 9097 1210
Email : scubbon@asiasat.com
Winnie Pang, Manager, Corporate Affairs
Tel : (852) 2500 0880
Email : wpang@asiasat.com