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TPG involved in two first round bids for SingTel’s Australian unit

26 Jun 2013

satellite2_170sqPrivate equity firm TPG has reportedly participated in two first round bids for Singapore Telecom’s Australian unit Optus, which is valued at A$2bn ($1.9bn).

TPG was involved in an offer made by Blackstone and another joint bid with Malaysian satellite group MEASAT, said the Australian Financial Review.

Other first round bidders include buyout firm KKR and satellite operator Eutelsat Communications, said AFR. Reuters reported that Asia Satellite Telecommunications, Intelsat, Sky Perfect Jsat, Inmarsat, Carlyle and SES also have submitted bids for Optus.

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

SingTel, South East Asia’s largest phone company, 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.

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