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Permira makes third Asia investment with Asia Broadcast Satellite

  • Maya Ando
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European buyout firm Permira Advisers has acquired Asia Broadcast Satellite Ltd.'s (ABS) holding company from Citi Venture Capital International and debt investment firm ADM Capital, becoming the majority shareholder in the business.

The acquisition size was not disclosed, but was estimated at an amount exceeding $200 million. The investment marks Permira’s third investment in Asia, or its fourth investment in the satellite industry, including Inmarsat PLC, Intelsat Ltd. and PanAmSat Holding Corp. All of its portfolio assets in this segment have already been exited. 

Founded in Hong Kong in 2006, ABS claims to be one of the fastest-growing premium satellite operators in the world, serving a global customer base of over 80 customers in around 30 countries. Henry Chen, Head of Permira’s Hong Kong office, commented, “This is an example of Permira displaying its competitive edge – combining strong global sector expertise with extensive local reach to capture attractive investments."

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