Telesat to Become Public Company through Agreement with Loral and PSP Investments
November 24, 2020
Telesat Canada reached an agreement with Loral Space & Communications and the Public Sector Pension Investment Board (PSP Investments) to form Telesat Corporation, a new publicly traded Canadian company. Under the transaction Telesat Canada and Loral will become subsidiaries of Telesat Corporation, which will list on the Nasdaq to provide access to public equity to support growth initiatives including Telesat's Low Earth Orbit (LEO) satellite network.
- Buyers
- Telesat Corporation, Loral Space & Communications Inc., Public Sector Pension Investment Board (PSP Investments)
- Targets
- Telesat Canada, Loral Space & Communications Inc.
- Sellers
- Loral stockholders, MHR Fund Management
- Industry
- Telecommunications
- Location
- Ontario, Canada
- Transaction Type
- Recapitalization
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