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  • Friday, November 22, 2024

Report: Inmarsat Buyers Pledge to Keep Satcom Company’s UK Operations


A consortium of private equity firms and Canada-based pension funds seeking to acquire Inmarsat agreed to a number of legally binding commitments with the U.K. government to maintain the satellite communications firm™s operations in the U.K., Reuters reported Thursday.

The Connect consortium, which includes Apax Partners, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers™ Pension Plan Board, said it agreed to ensure that strategic decisions for Inmarsat are carried out in the U.K. and network operations centers and engineering expertise will remain in the country.

Inmarsat shareholders approved a $3.4B takeover bid from Connect in May two months after receiving the offer from the consortium.

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