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TPG to make final bid for SingTel’s Optus, KKR and Carlyle drop out

4 Jul 2013

satellite2_170sqA consortium that includes buyout majors TPG and Blackstone has reportedly been shortlisted for the final round of bidding for Singapore Telecommunications’ Australian satellite unit.

Eutelsat and SES will also make final bids for Optus Satellite, while private equity firms KKR and Carlyle have dropped out of bidding, said Bloomberg, citing people with knowledge of the matter.

SingTel, South East Asia’s largest phone company, is seeking A$2bn for the business, which has five satellites covering Australia, New Zealand and parts of the Antarctic. Optus posted revenues of $319m for the financial year to end March 2012.

Final offers will be submitted next month and the shortlisted bidders including a group made up of TPG, Carlyle and Malaysia’s Measat Global, have been given access to more detail financial information, sai done of the sources.

SingTel bought the business as part of its takeover of its parent company Optus for $9.69bn.

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