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This translation was generated automatically and has not been checked for correctness. Full disclaimer
Loral Space & Communications Inc. . has signed an agreement with the Public Sector Pension Investment Board and Telesat Canada to combine Loral and Telesat into a new public company.
Loral Loral, who also announced a special dividend of $ 1. 50 per share, holds a 62. 7 percent economic interest Telesat Canada, an operator of telecommunications and direct satellites.
Under the Plan, Loral shareholders, along with PSP Investments and certain current and former Telesat management shareholders, will own the new company in approximately the same proportion as their current indirect interest in Telesat.
MHR Fund Management LLC will own 36. 6 percent in the new company, while PSP Investments will hold 36. 7 percent. Management shareholders will own 0. 7 percent.
Loral shareholders who are not affiliated with the funds managed by MHR Funds own 26. 1 percent of the new company.
The plan, which is subject to customary closing conditions, including approval by Loral shareholders and certain regulatory approvals, is expected to close in the second or third quarter of 2021.
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Telesat, Loral Space & Communications, Public Company, Public Sector Pension Investment Board, NASDAQ: LORL, NASDAQ
World News – CA – Loral Space is being combined with Telesat to form new ones public company
. . Associated title :
– Loral Space to combine with Telesat to founding a new joint stock company
– Loral Space & Communication with Telesat to found a new company
– Loral signs agreement with PSP Investments and Telesat to combine Loral and Telesat in a new public . . .
– Loral (LORL) concludes pact with PSP investments and Telesat to combine into a new stock company
– Loral, Telesat on the merger into a new stock corporation, declares special dividend, shares 1. 5%
Ref: https://www.theglobeandmail.com
