Carey Olsen has advised SES S.A., the world’s leading satellite group, on its additional equity investment in Jersey company, O3b Networks Limited.
The global satellite operator, which is listed on Euronext Paris and the Luxembourg Stock Exchanges, will invest a further US$75 million in O3b Networks over the next three years.
O3b Networks, which stands for the ‘other three billion’, has raised a total of US$1.2billion from investors and banks. The investment from SES will help provide funding to launch eight satellites around the equator to provide high-speed internet connectivity to 150 countries in Africa, Asia, Latin America and the Middle East.
Carey Olsen provided SES with Jersey legal advice and was previously retained by the organisation for its original equity investment in O3b Networks last year. SES’ shareholding in the Jersey company is now 34 percent but it is expected to rise to approximately 44 percent over the next two years due to the in-kind services SES will contribute to O3b.