Loral, which also announced a special dividend of
Under the plan, Loral shareholders, together with PSP Investments and certain current and former management shareholders of Telesat will own the new company in approximately the same proportion as their current, indirect ownership in Telesat.
Loral stockholders not affiliated with the funds managed by MHR Funds will own 26.1 per cent of the new company.
The plan, which is subject to customary closing conditions, including approval by Loral shareholders and certain regulatory approvals, is expected to close in the second or third quarter of 2021.
This report by
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