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Apax Partners France News

18 Jul 2018

Marlink's €622m Dividend Recapitalization Loan Pulled

A €622m-equivalent dividend recapitalization and refinancing loan for Norwegian satellite navigation group Marlink has been withdrawn from the market, sources familiar with the situation said.The leveraged loan for Marlink, which is owed by private equity firm Apax Partners, has run into the turbulence that has hit the European market in the last month, as investors call for better terms and conditions.A combination of increased dealflow and poor secondary trading levels on loans signed earlier this year is helping investors to push for higher pricing and stronger documentation."Several deals have struggled recently. We've seen terms changing and ultimately the market was simply not in a receptive place for this one (Marlink)…

26 Oct 2006

Telenor to be Acquired by Apax

Telenor entered into a definitive agreement with Apax Partners France for the sale of Telenor Satellite Services (TSS) to funds managed by Apax Partners for a cash consideration of $400m. Since 2002 Telenor has defined Telenor Satellite Services as non-core business. Apax Partners intends to pursue the development of the company in Norway and abroad. Telenor Satellite Services offers communication solutions via satellite to land, air and sea. The transaction will not impact the services provided by TSS and business relations with customers will remain unchanged. The transaction is subject to approval from regulatory authorities. Given the current exchange rate for USD, Telenor ASA will be able to post a gain of approximately NOK 1.4 billion from the sale.

26 Oct 2006

Telenor Satellite Services to be Acquired

On October 25, 2006, Telenor entered into a definitive agreement with Apax Partners France for the sale of Telenor Satellite Services (TSS) to funds managed by Apax Partners for $400 million. Since 2002, Telenor has defined Telenor Satellite Services as non-core business. Apax Partners intends to pursue the development of the company in Norway and abroad. Telenor Satellite Services offers communication solutions via satellite to land, air and sea. The transaction will not impact the services provided by TSS and business relations with customers will remain unchanged. "Apax Partners is a very capable owner, and the sale of Telenor Satellite Services is made in accordance with Telenor's strategy to divest business operations that fall outside the scope of our core activities.