BC Partners Wins Intelsat

BC Partners announced Tuesday night that it is buying Intelsat, the Bermuda-based satellite communications company, for $4.6bn in cash.

BC beat Liberty Media Corp and US satellite communications company EchoStar, which were understood to have made a joint offer for Intelsat.

Providence Equity Partners, Carlyle and Australia's Macquarie Bank had also been flagged as interested buyers.

BC Partners is acquiring about 76% of Intelsat, valuing Intelsat's equity at $5.03bn.

With $11.4bn worth of debt on Intelsat's balance sheet, the satellite company's enterprise value is $16.4bn.

BC Partners is paying Intelsat's current owners