Yahati, the satellite operator in the UAE (UAE), announced that it has signed a contract to acquire most of its company's shares, Suraya (Thuraya).
Yahsat said in a statement that the transaction is based on the assumption that the final closing conditions will be met. It does not mention transaction-specific details.
Thuraya (UAE base, 20-year-old mobile satellite operator) has two satellites in more than 140 countries. Yasat, a fixed satellite provider owned by Mubadara Investment Company in Abu Dhabi, currently has three satellites.
"This acquisition will greatly expand the portfolio of Yahsat satellite solutions today and its global footprint in the commercial and government sectors," the statement said.
The combined satellite covers Europe, Africa, the Middle East, South America and Asia and provides fixed and mobile satellite services.
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