SES Completes Intelsat Acquisition

Ticker: SGBAF · Form: 6-K · Filed: 2025-07-17T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, merger, satellite

Related Tickers: SES

TL;DR

SES just bought Intelsat, deal closed today!

AI Summary

On July 17, 2025, SES completed its acquisition of Intelsat Holdings S.a.r.l. and its subsidiaries. This acquisition was previously announced and is governed by a share purchase agreement dated April 30, 2024, between SES and Intelsat S.A.

Why It Matters

This significant acquisition by SES is expected to reshape the satellite communications landscape, potentially leading to increased market consolidation and new service offerings.

Risk Assessment

Risk Level: medium — Acquisitions of this scale carry inherent integration risks, potential regulatory hurdles, and financial complexities that could impact the company's performance.

Key Players & Entities

FAQ

What is the primary purpose of this Form 6-K filing?

This Form 6-K filing announces the completion of SES's acquisition of Intelsat Holdings S.a.r.l. and its subsidiaries.

When did SES officially complete the acquisition of Intelsat?

SES completed the acquisition on July 17, 2025, referred to as the 'Closing Date'.

What is the name of the agreement governing the acquisition?

The acquisition is governed by the Share Purchase Agreement, dated as of April 30, 2024.

Who are the parties involved in the Share Purchase Agreement?

The parties involved are SES (the 'Company') and Intelsat S.A.

What is the filing date of this report?

This report was filed on July 17, 2025.

From the Filing

0001193125-25-160505.txt : 20250717 0001193125-25-160505.hdr.sgml : 20250717 20250717160529 ACCESSION NUMBER: 0001193125-25-160505 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20250717 FILED AS OF DATE: 20250717 DATE AS OF CHANGE: 20250717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SES S.A. CENTRAL INDEX KEY: 0001347408 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATION SERVICES, NEC [4899] ORGANIZATION NAME: 06 Technology EIN: 000000000 STATE OF INCORPORATION: N4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-286828 FILM NUMBER: 251130712 BUSINESS ADDRESS: STREET 1: L-6815 CHATEAU DE BETZDORF CITY: LUXEMBOURG STATE: N4 ZIP: 00000 BUSINESS PHONE: 352 710 725 1 MAIL ADDRESS: STREET 1: L-6815 CHATEAU DE BETZDORF CITY: LUXEMBOURG STATE: N4 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: SES Global S.A. DATE OF NAME CHANGE: 20051220 6-K 1 d32431d6k.htm 6-K 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 Date: July 17, 2025 Commission File Number: 333-286828 SES (Translation of registrant’s name into English) Château de Betzdorf L-6815 Betzdorf Grand Duchy of Luxembourg (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒   Form 40-F ☐ INFORMATION CONTAINED IN THIS FORM 6-K REPORT Completion of Acquisition On July 17, 2025 (the “Closing Date”), SES (the “Company”) completed its previously announced acquisition (the “Acquisition”) of Intelsat Holdings S.a.r.l. and its subsidiaries pursuant to the share purchase agreement, dated as of April 30, 2024 (the “Share Purchase Agreement”), by and between the Company and Intelsat S.A. (“Intelsat”). The Company issued a press release, attached hereto as Exhibit 99.1, announcing the foregoing event. Historical information of Intelsat and its subsidiaries, as well as pro forma financial information of the Company, was included in the Company’s prospectus supplement, dated May 14, 2025, filed with the Securities and Exchange Commission on May 15, 2025 (File No. 333-286828). Contingent Value Rights Agreement On the Closing Date, in connection with the consummation of the Acquisition and as contemplated by the Share Purchase Agreement, the Company entered into a Contingent Value Rights Agreement (the “CVR Agreement”) with Equiniti Trust Company, LLC, as rights agent, pursuant to which the Company issued 70,139,990 Contingent Value Rights to Intelsat as part of the consideration for the Acquisition, which were then distributed by Intelsat to Intelsat’s shareholders (including holders of Intelsat’s vested RSUs and PSUs). A copy of the CVR Agreement is attached hereto as Exhibit 99.2. Exhibit Index The following exhibits are filed as part of this Form 6-K: Exhibit Description 99.1 Press Release 99.2 Contingent Value Rights Agreement, dated July 17, 2025 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SES (registrant) Date: July 17, 2025 By: /s/ Adel Al-Saleh Name: Adel Al-Saleh Title: Chief Executive Officer EX-99.1 2 d32431dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Press release SES Completes Acquisition of Intelsat, Creating Global Multi-Orbit Connectivity Powerhouse New leading multi-orbit space company with a network of 120 GEO+MEO satellites and access to LEO constellations enables SES to better serve its customers Luxembourg, 17 July 2025 — SES, a leading space solutions company, today announced the completion of its highly value accretive acquisition of Intelsat, creating a stren

View on Read The Filing