Satmex Reportedly Up for Sale

Mexico City, Mexico, July 19, 2013- Mexican satellite opeartor  Satélites Mexicanos, S.A. de C.V. (Satmex) is reported up for sale, according to various media reports quoting surces familiar with the matter.Satmex has reportedly hired Credit Suisse Group AG and Goldman Sachs Group Inc. to represent them in the sale.

According to sources quoted by the Wall Street Journal, the company is currently in its second round of bidding, with around five bidders including private-equity firms and “strategic” corporate bidders.

In 2011 Satmex filed for bankruptcy protection, from which it has since emerged.  Satmex just announced the other day that it has entered into an agreement with Boeing Satellite Systems Internationalfor the design, construction and delivery of Satmex 9, the latest communications satellite in its fleet.

Satmex 9 will be launched from Cape Canaveral, Florida, and will use SpaceX's Falcon 9 rocket. The launch is scheduled for the fourth quarter of 2015. Satmex 9 is a satellite with 48 Ku band 36 MHz equivalent transponders, capable of serving all of Satmex's Latin American customers in the video, telecommunications and government sectors.

The procurement of Satmex 9 is part of a global cooperation agreement with Asia Broadcast Satellite (ABS), involving the manufacture and delivery of four satellites, and the option for four additional satellites. As previously announced, the Satmex 7 and ABS-3A satellites are currently under construction by Boeing. Both Satmex and ABS will have the ability to convert the optional satellites to firm orders as they may determine in the future.