Bain Capital, Carlyle and Blackstone mulling bids for Optus Satellite


satellite2_170sqBuyout majors Bain Capital, Carlyle and Blackstone are reportedly considering bids for the Australian satellite business of Singapore Telecommunications (SingTel), which is now up for sale and could fetch as much as A$2bn.

SingTel, which is South East Asia’s largest phone company, has provided information about Optus Satellite to potential buyers, said Bloomberg, citing three people with knowledge of the matter.

Optus currently has five satellites covering Australia, New Zealand and parts of the Antarctic.

SingTel bought the business, which posted revenues of $319m for the financial year to end March 2012, as part of its takeover of its parent company Optus for $9.69bn.

SingTel has hired Credit Suisse and Morgan Stanley to study options for the business. The two banks are offering debt packages to potential suitors to help attract bids, said the sources.

A SingTel spokeswoman told Bloomberg, “We are conducting a strategic review of our Optus Satelitte business and will make an appropriate announcement in the event of a material development arising from the review.”

Earlier this month it was reported that KKR, Bain Capital and Carlyle were considering making offers for Panasonic’s healthcare businesses.

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