Mourant Ozannes advises on the acquisition of a controlling interest in O3b Networks

Tuesday 24 May 2016

Offshore law firm, Mourant Ozannes, has advised O3b Networks Limited on the acquisition of a controlling interest in O3b Networks by its largest shareholder, SES S.A..

O3b Networks, which has its corporate headquarters in Jersey, is a global satellite services provider building a next-generation satellite network for telecommunications operators and internet service providers. SES is a Luxembourg based satellite operator and provider.

Subject to regulatory approvals, SES will increase its stake in O3b Networks from 49.1 percent to 50.5% for a consideration of $20 million. O3b Networks' shareholders have further agreed to a scenario in which SES would purchase the remaining 49.5 percent of O3b Networks for $710 million by October 2017, unless SES decides to do so beforehand or the shareholders agree to an IPO of O3b Networks.

The Mourant Ozannes team advising O3b Networks was led by Partner James Hill and Counsel Jon Woolrich.

Mourant Ozannes Partner, James Hill, said: "We have had the privilege of advising O3b Networks since it was founded in 2007. During that time we have witnessed the company launch 12 satellites and expand its business considerably, and this is the latest exciting step in its development."

O3b Networks was advised by Milbank, Tweed, Hadley & McCloy LLP on New York and English law.