Permira completes ABS deal
Permira has announced the successful completion of its acquisition of the holding company for Asia Broadcast Satellite, along with the ABS management team, giving existing PE investors CVC International, CVC International Co-Investment, and ADM Capital a full exit.
Financial terms for the exit have still not been disclosed, but are estimated in the $200 million range. With the completion, Permira becomes the majority owner of ABS. “As our company enters the next stage of growth and development, we are very fortunate to have an investor like the Permira funds who have a deep understanding and a sound perspective of the satellite industry landscape," Thomas Choi, Founder and Chief Executive of ABS, said publicly.
The CVCI/ADM consortium originally invested ABS in 2006, as part of the foundation of the business.
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