Offshore law firm Mourant Ozannes has advised O3b Networks on the acquisition of a controlling interest in O3b Networks by its largest shareholder, SES.
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 per cent to 50.5 per cent for a consideration of $20 million.
O3b Networks' shareholders have further agreed to a scenario in which SES would purchase the remaining 49.5 per cent 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.
O3b Networks was also advised by Milbank, Tweed, Hadley & McCloy on New York and English law.