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TS News - Loral Takes Controlling Stake In Space Systems
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From: martyn@twics.com (Martyn Williams)
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Date: Wed, 14 Aug 1996 10:56:30 +0900
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From owner-ts-news@tele-satellit.com Tue Aug 13 22: 05:39 1996
TELE-satellit News, 14 August 1996
Loral Takes Controlling Stake In Space Systems
NEW YORK, New York, USA, 96/08/14 (TS) -- Loral Space & Communications
Ltd. has announced today that it has increased its stake in Space
Systems/Loral, to take a contolling interest of 51 percent. The company
previous held a 32.7% stake in the satellite maker.
The extra 18.3% stake was acquired from partnerships affiliated with
Lehman Brothers Holdings Inc., the company said today, in return for a
mixture of stock and cash.
Space Systems/Loral, a $1.4 billion company, is a world leader in the
design, manufacture and systems integration of telecommunications, weather
and direct broadcast satellites. It has produced 75 satellites, accounting
for 580 years of on-orbit experience, and has a backlog of another 75
satellites.
(c)TELE-satellit 1996. All rights reserved.
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