Intelsat to Acquire Commercial Aviation Business of Gogo
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Gogo (GOGO) Confirms Agreement to Sell its Commercial Aviation Business to Intelsat for $400 Million in Cash
September 1, 2020 6:58 AM EDTGogo Inc. (NASDAQ: GOGO) ("Gogo") today announced it has entered into a definitive agreement to sell its Commercial Aviation (CA) business to Intelsat S.A. (OTC: INTEQ) ("Intelsat") for $400 million in cash, subject to customary adjustments.
The Gogo Board of Directors has approved the transaction. Intelsat expects to finance the transaction utilizing cash on hand and borrowings under its $1 billion debtor-in-possession credit facility and has obtained support from key economic stakeholders, as well as approval from the U.S. Bankruptcy Court for the Eastern District of... More
