SES, S.A. (BDL:008808732) agreed to acquire the remaining 49.5% stake in O3b Networks Limited for $710 million on July 1, 2016. Upon completion, SES will consolidate $1.2 billion of O3b net debt. As per the terms of the transaction, SES, S.A. will also acquire the remaining warrants of O3b Networks. SES will pay $710 million using proceeds from its recent equity raising. The shareholders of O3b Networks have agreed to accept the offer and non-tendering warrant- holders will be cashed out. The transaction is subject to regulatory approvals. The transaction was approved by regulators. The transaction is expected to be completed on August 1, 2016. NOR Capital acted as financial advisor while Morgan Stanley & Co. International plc and J.P. Morgan Securities plc are acting as book runner for placement. Portland Advisers acted as financial advisor to O3b Networks Limited.

SES, S.A. (BDL:008808732) completed the acquisition of remaining 49.5% stake in O3b Networks Limited on August 1, 2016.