M&A - SES S.A.

Form Type: F-4/A

Filing Date: 2025-05-08

Corporate Action: Acquisition

Type: Update

Accession Number: 000119312525115825

Filing Summary: SES S.A. is filing an amendment to its Form F-4 registration statement under the Securities Act of 1933, relating to its acquisition of Intelsat Group. The acquisition involves SES purchasing 100% of the shares of Intelsat Holdings and acquiring its assets, subject to certain exceptions, and assuming its liabilities. As part of this transaction, SES will issue Contingent Value Rights (CVRs) to Intelsat's shareholders which represent a right to receive stochastic cash payments based on certain future events occurring within a specified period following the acquisition. The CVRs will be distributed in connection with the liquidation of Intelsat, following the completion of the acquisition. Detail regarding the securities involved, shareholder approvals, and the risk factors associated with the acquisition are provided in the prospectus. SES anticipates closing the acquisition in the second half of 2025.