August 16, 2004

Satellite Services giant Intelsat purchased in competitive bid by Zeus Holdings Inc. for $3 billion.

On August 16, Intelsat, one of the world’s largest satellite services companies, was purchased in a competitive bid by Zeus Holdings Inc., a holding company comprising four private equity firms: Apax Partners, Appollo Management, Madison Dearborn Partners and Permira.  Willkie represented Intelsat’s financial advisors, Morgan Stanley and Merrill Lynch, in the $3 billion deal.  Zeus Holdings will also assume Intelsat’s $2 billion debt.  Partner Steven Seidman and associate Matthew Lux advised in the deal.

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