Permira buys control of satellite operator ABS

Permira backs a $200 million management buyout of Asia Broadcast Satellite from a consortium of private equity investors led by CVC, leaving it with a majority stake.

Private equity fund Permira has closed its third Asian investment, backing a management buyout of Asia Broadcast Satellite ABS for an estimated $200 million.

Permira will buy Kingsbridge, the holding company for ABS, from its current shareholders, which  include private equity firm Citigroup Venture Capital CVC and distressed debt investor ADM Capital.

Permira did not disclose the price it will pay to become the majority shareholder of ABS or what percentage stake it will ultimately own....

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