Chinese group to buy Israel’s Spacecom satellite operator for $285 million

[cirr]

Chinese group to buy Israel’s Spacecom satellite operator for $285 million

by Peter B. de Selding — August 24, 2016

The sale of satellite fleet operator Spacecom of Israel to a Beijing conglomerate is pending the successful launch, scheduled for Sept. 3 by SpaceX, of the Amos-6 telecommunications satellite. Credit: Spacecom

PLYMOUTH, Massachusetts – Satellite fleet operator Space Communications (Spacecom) of Israel’s principal shareholders on Aug. 24 said they had agreed to sell the company to a Beijing conglomerate that has created a Luxembourg entity to manage the business for $285 million in cash.

The transaction’s terms are pending the successful entry into service of Spacecom’s Amos-6 telecommunications satellite, built by Israel Aerospace Industries and scheduled for launch Sept. 3 aboard a SpaceX Falcon 9 rocket.

Spacecom’s satellite fleet, three satellites plus the coming Amos-6, will continue to be operated from Israeli territory under the terms of the agreement.

Spacecom’s owners, led by privately held Israeli telecommunications group Eurocom, have been trying to sell the company for several years. On recent attempted transaction with Spanish satellite fleet operator Hispasat came undone because of Israeli regulatory issues.

Spacecom’s shareholders, but not Spacecom itself, issued a statement Aug. 24 saying the sales price represents a 41 percent premium over where Spacecom stock was trading before rumors of the sale surfaced. Spacecom is traded on the Tel Aviv Stock Exchange.

According to the statement, Beijing Xinwei Technology Group is buying Spacecom and will integrate it into an existing Luxembourg company called Luxembourg Space Telecommunication S.A., which will be the legal purchaser of Spacecom.

Beijing Xinwei also owns an Israeli company, named Big Bird Ltd., which will handle the transaction and assure a continued Israeli presence for the company’s assets.

Spacecom Chief Executive David Pollack said in a statement that the transaction will give the company room to grow in a challenging market.

“The global market of communication satellites is undergoing a consolidation process, enabling the merging companies to improve their competitiveness,” Pollack said.

“Further to contacts with various entities, the negotiations with the Beijing Xinwei Group matured into this transaction, reflecting a substantial premium on the market price. Beijing Xinwei is a strategic partner, expert in the field of telecommunication, planning to expand its business in the communication satellites field. The merger will provide the Company with financial strength, and will enable further development and growth. The transaction is performed in accordance with Space Communication’s license terms, stipulating, inter alia, that the satellites will be operated from Israel, and that the Company shall remain an Israeli company, regardless of the identity of the shareholders of the Company.

Spacecom shareholders described Beijing Xinwei Technology Group Co. Ltd. as “a Chinese conglomerate with vast global operations, inter alia, in the USA, Ireland, Russia, Nicaragua, Brazil and more. The company provides solutions to telecom providers, and active in the cellular communication field, equipment sales, and communication satellites. The company is traded on the Shanghai Stock Exchange at a market price of US$ 7.6 billion, and its balance sheet present assets in the amount of US$ 2.7 billion. Xinwei was incorporated in December 1995, by two telecom researchers, Chen Wei and Xu Guanhan and other entities. Xinwei’s headquarter is located in Beijing, China.”

- See more at: http://spacenews.com/62659-2/#sthash.KmF7J1FQ.dpuf

 

[Economic superpower]

US might block this deal.

 

[empirefighter]

US might block this deal.

USA absolutely will do that. It is OK，we spend time to develop ours.

 

[TaiShang]

Tycoon to buy Israeli satellite operator
By LYU CHANG (China Daily) August 26, 2016

Chiense tycoon Wang Jing waves after attending a media conference in Managua, Nicaragua, December 23, 2014. [Photo / VCG]

A company owned by Chinese tycoon Wang Jing is taking over an Israeli satellite operation firm for $285 million.

Wang said the deal is expected to help Beijing Xinwei Telecom Technology to access "scarce resources" in outer space, as the number of available positions on some satellite orbits is falling.

Wang is known for his plan to build a $50 billion canal project spanning Nicaragua, connecting the Atlantic and Pacific Oceans.

Beijing Xinwei is to acquire a 100 percent stake in Spacecom Satellite Communications through its unit Luxembourg Space Telecommunications, the technology company said in a statement on Wednesday.

"After the acquisition, we will be able to provide services to 95 percent of the world's people and gain a professional team with 20 years' experience in satellite operations," the statement said.

A researcher at the China Academy of Space Technology, who declined to be named, said this makes Xinwei the first private company to acquire scarce orbit resources in an industry that is highly controlled and run mainly by the military.

"This access is a really valuable asset, because the number of available slots on high Earth orbits is quite limited, and only a few permits are granted each year to countries around the world for the launch of satellites," the researcher said.

High Earth orbit refers to an orbit around the Earth at an altitude higher than 36,000 km.

"The United States and Russia dominate the satellite market in terms of manufacturing and operating, and this deal will unlock the potential for Chinese satellite companies," the researcher said.

The deal is not the first foray for Beijing Xinwei, which specializes in mobile network development and space industry products.

In 2013, the company launched a satellite, jointly developed with Tsinghua University, aimed at providing a cheaper alternative to foreign satellite communication providers in China's ocean and desert areas.

Founded in 1989, Spacecom operates AMOS, a series of Israeli communications satellites.

The company presells services and capacity to customers including broadcasters, telecom providers, communications companies and government agencies. The satellites it controls cover the Middle East, Central Europe, Asia and Africa.

Spacecom is also building an Amos 6 satellite for Facebook to provide broadband services directly to mobile phones.

 

[艹艹艹]

Tycoon to buy Israeli satellite operator

2016-08-26 08:34China DailyEditor: Wang Fan
A company owned by Chinese tycoon Wang Jing is taking over an Israeli satellite operation firm for $285 million.

Wang said the deal is expected to help Beijing Xinwei Telecom Technology to access "scarce resources" in outer space, as the number of available positions on some satellite orbits is falling.

Wang is known for his plan to build a $50 billion canal project spanning Nicaragua, connecting the Atlantic and Pacific Oceans.

Beijing Xinwei is to acquire a 100 percent stake in Spacecom Satellite Communications through its unit Luxembourg Space Telecommunications, the technology company said in a statement on Wednesday.

"After the acquisition, we will be able to provide services to 95 percent of the world's people and gain a professional team with 20 years' experience in satellite operations," the statement said.

A researcher at the China Academy of Space Technology, who declined to be named, said this makes Xinwei the first private company to acquire scarce orbit resources in an industry that is highly controlled and run mainly by the military.

"This access is a really valuable asset, because the number of available slots on high Earth orbits is quite limited, and only a few permits are granted each year to countries around the world for the launch of satellites," the researcher said.

High Earth orbit refers to an orbit around the Earth at an altitude higher than 36,000 km.

"The United States and Russia dominate the satellite market in terms of manufacturing and operating, and this deal will unlock the potential for Chinese satellite companies," the researcher said.

The deal is not the first foray for Beijing Xinwei, which specializes in mobile network development and space industry products.

In 2013, the company launched a satellite, jointly developed with Tsinghua University, aimed at providing a cheaper alternative to foreign satellite communication providers in China's ocean and desert areas.

Founded in 1989, Spacecom operates AMOS, a series of Israeli communications satellites.

The company presells services and capacity to customers including broadcasters, telecom providers, communications companies and government agencies. The satellites it controls cover the Middle East, Central Europe, Asia and Africa.

Spacecom is also building an Amos 6 satellite for Facebook to provide broadband services directly to mobile phones.

 

[艹艹艹]

 

[CCP]

Are you serious?

The second photo is not belong to here.

@waz
I think something should be modify here.

 

[TaiShang]

@long_ , bro, refrain from sharing bloody-gruesome images.

Other than that, the thread is instructive in terms of the implications of foreign invasion.

Sovereignty is the highest political virtue.

Having power to protect sovereignty is the greatest historical task.

 

[TaiShang]

Fujian Yango acquires 52.3% stake in Israeli insurer Phoenix
By Shi Jing (People's Daily Online) August 26, 2016

On Aug. 22, Fujian Yango Holdings signed a binding agreement with Israeli conglomerate Delek Group to buy a 52.3 percent stake in insurer Phoenix Holdings for 1.95 billion shekels ($515.9 million, or 3.4 billion yuan).

According to a finance consultant from Ernst & Young, total asset of the insurer is worth almost 170 billion yuan, and Phoenix's annual premium can reach up to 19 billion yuan which makes the deal the largest ever overseas acquisition for a Chinese enterprise in the insurance industry.

Fujian Yango Holdings is the parent company of Yango Group. The company is active inseveral industries, though previously not in insurance or finance. Phoenix Holdings is one ofthe five largest insurance groups in Israel. It has been controlled by Delek Group since2006.