SkyTerra wraps buy of Hughes Net Systems.(Hughes Communications Inc.)(Brief Article)
Multichannel News, January, 2006
NEW YORK -- SkyTerra Communications Inc'.s subsidiary, Hughes Communications Inc., completed a deal to buy the remaining 50% of Hughes Network Systems LLC from DirecTV Group inc. for $100 million in cash. Hughes Communications borrowed $100 million from Apollo Investment Fund IV L.P. and Apollo Overseas Partners IV L.P., both stockholders of SkyTerra.
HNS also paid DirecTV $10 million to resolve certain post-closing adjustments related to the initial purchase by SkyTerra of its 50% interest in HNS.
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