Senior Communications Manager
WRF Advises Asia Broadcast Satellite in Acquisition of LMI-1 Satellite
Washington, DC—In a significant industry transaction, Wiley Rein & Fielding client Asia Broadcast Satellite (ABS), a newly-formed satellite operator, has acquired Lockheed Martin Space Communications Ventures Ltd. (LMSCV) and Lockheed Martin Intersputnik Ltd. (LMI) from Lockheed Martin Global Telecommunications, Inc. WRF attorneys served as lead counsel for ABS and Kingsbridge Ltd. for the transaction and related matters, including export control and communications regulatory issues.
LMSCV owns and operates the LMI-1 satellite and LMI has the exclusive right to market capacity on LMI-1. Following the transaction, LMSCV and LMI have been renamed Asia Broadcast Satellite Holdings, Ltd. and Asia Broadcast Satellite, Ltd., respectively, and the LMI-1 satellite is being referred to as ABS-1. The satellite, positioned at 75 degrees East Longitude and zero degrees Latitude, is a high-powered Lockheed Martin A2100AX spacecraft in geosynchronous orbit covering four continents and over four billion people in Eastern Europe, Asia, Africa, Australia and the Middle East.
ABS is headquartered in Hong Kong and backed by an affiliate of Citigroup Venture Capital International as majority shareholder with additional financing from Asia Debt Management.
WRF Business & Finance Practice members Brook A. Edinger and Robert D. Benton served as transactional counsel, Cari N. Stinebower and M. William Schisa of the firm’s International Trade Practice served as export control counsel, and Carl R. Frank of the firm’s Communications Practice served as communications regulatory counsel.