M&A Deal Summary

PSP Investments and Loral Space & Communications Acquire Telesat

On December 18, 2006, pension PSP Investments and Loral Space & Communications acquired communications company Telesat from BCE for 3.3B CAD

Acquisition Highlights
  • This is PSP Investments’ 1st and Loral Space & Communications’ 2nd transaction in the Communications sector.
  • This is PSP Investments’ 7th and Loral Space & Communications’ largest (disclosed) transaction.
  • This is PSP Investments’ 1st and Loral Space & Communications’ 1st transaction in Canada.
  • This is PSP Investments’ 1st and Loral Space & Communications’ 1st transaction in Ontario.
Investment Fate
  • Telesat went public in 2021.

M&A Deal Summary

Date 2006-12-18
Target Telesat
Sector Communications
Buyer(s) PSP Investments
Loral Space & Communications
Sellers(s) BCE
Deal Type Divestiture
Deal Value 3.3B CAD

Target

Telesat

Ottawa, Ontario, Canada
Telesat is a global satellite operator that provides technical consultation and support services to satellite operators, insurers, and other industry stakeholders around the globe. Telesat is based in Ottawa, Ontario.

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Buyer(S) 2

Buyer

PSP Investments

Investor Investor Investor Investor Investor


Category Pension
Founded 1999
PE ASSETS 19.4B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.


DEAL STATS #
Overall 1 of 29
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 5
State (Ontario) 1 of 1
Country (Canada) 1 of 3
Year (2006) 1 of 1
Size (of disclosed) 7 of 10
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Alpha Trains Luxembourg S.à r.l.

Luxembourg, Luxembourg

Alpha Trains Luxembourg S.à r.l. is a private operating lessor of rolling stock (passenger trains and locomotives). Alpha Trains owns 416 passenger trains and 363 locomotives and offers tailor-made leasing solutions, comprehensive know-how in maintenance and vehicle repairs as well as long-term experience in the financing of new build projects. Alpha Trains is based in Luxembourg.

Buy £3.6B
Buyer

Loral Space & Communications

New York, New York, United States

Category Company
Founded 1996
Sector Communications
DESCRIPTION

Loral Space & Communications is a satellite communications company engaged, through ownership interests in affiliates, in satellite-based communications services. Loral Space & Communications was founded in 1996 and is based in New York City.


DEAL STATS #
Overall 2 of 2
Sector (Communications) 2 of 2
Type (Divestiture) 2 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-03-20 Orion Network Systems

Rockville, Maryland, United States

Orion Network Systems, Inc. is an international satellite communications company that provides high speed Internet connectivity and private multimedia services, directly to multinational businesses via small receiving antennas. It also transmits video communications for television and other program distribution services.

Buy $479M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-19 Telesat

Ottawa, Ontario, Canada

Telesat is a global satellite operator that provides technical consultation and support services to satellite operators, insurers, and other industry stakeholders around the globe. Telesat is based in Ottawa, Ontario.

Sell -

Seller(S) 1

SELLER

BCE

Verdun, Quebec, Canada

Category Company
Founded 1880
Sector Communications
Employees45,132
Revenue 24.7B CAD (2023)
DESCRIPTION

BCE is Canada's largest communications company, providing a comprehensive and innovative suite of broadband communication services to residential and business customers in Canada. BCE was incorporated in 1880 and is based in Verdun, Canada.


DEAL STATS #
Overall 1 of 3
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 2
State (Ontario) 1 of 2
Country (Canada) 1 of 3
Year (2006) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-22 GT Group Telecom

Toronto, Ontario, Canada

Group Telecom Inc. was Canada's largest independent, facilities-based telecommunications provider. It is now integrated within Bell Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-10 CTV

Toronto, Ontario, Canada

CTV Ltd. is a provider of television broadcast networking services in Canada.

Buy $1.3B