TPG takes part in 2 bids for SingTel's Australia satellite unit -report
26/06/2013 01:00
SYDNEY, June 26 (Reuters) - Private equity firm TPG Capital TPG.UL is involved in two separate bids for Singapore Telecommunications Ltd's STEL.SI Australian satellite unit, a business valued at more than A$2 billion ($1.9 billion), the Australian Financial Review reported. TPG was involved in a bid with Blackstone Group BX.N as well as separate one with Malaysian satellite business MEASAT, the newspaper said in its online edition. TPG declined to comment. Trade buyer Eutelsat Communications SA ETL.PA and fellow private equity firm KKR KKR.N also took part in the first round bids, AFR said. SingTel, Southeast Asia's largest telecom operator, has put the satellite business of its Australian unit Optus on sale as it battles tepid growth in its key markets of Singapore and Australia. Reuters sources have said that other bidders include Asia Satellite Telecommunications Holdings Ltd 1135.HK , Intelsat I.N , Sky Perfect Jsat Holdings Inc 9412.T , Britain's Inmarsat ISA.L , Carlyle Group CG.O and SES SESFg.LU . ID:nL3N0ET0S1 Optus has circulated an information memorandum for the business to interested parties, and will provide more details next month, when selected bidders submit final bids, the newspaper said. Optus Satellite operates five satellites, with another scheduled for launch in 2013. SingTel acquired the satellite arm when it bought Optus in 2001 for $14 billion. ($1 = 1.0818 Australian dollars) (Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs) ((maggie.luyueyang@thomsonreuters.com)(+61 2 93731819)(Reuters Messaging: maggie.luyueyang.thomsonreuters.com@reuters.net)) Keywords: AUSTRALIA OPTUS/TPG