Energia to finance Sea Launch
Posted: Fri, May 14, 2010, 6:24 AM ET (1024 GMT)
Russian space company Energia, one of the partners of the multinational Sea Launch venture, will finance the launch provider out of Chapter 11 and take a majority stake in the company. Sea Launch filed a plan of reorganization with the US Bankruptcy Court this week under which Energia Overseas Limited would take an 85% stake in in the restructured company for $140 million, and provide it with access to a $200 million line of funding. The remaining 15% of the company will be owned by unsecured creditors of Sea Launch. The company filed for Chapter 11 bankruptcy protection last summer and has not performed any launches since then. Company officials previously said that they plan to resume launches of commercial satellites in 2011.
Russian space company Energia, one of the partners of the multinational Sea Launch venture, will finance the launch provider out of Chapter 11 and take a majority stake in the company. Sea Launch filed a plan of reorganization with the US Bankruptcy Court this week under which Energia Overseas Limited would take an 85% stake in in the restructured company for $140 million, and provide it with access to a $200 million line of funding. The remaining 15% of the company will be owned by unsecured creditors of Sea Launch. The company filed for Chapter 11 bankruptcy protection last summer and has not performed any launches since then. Company officials previously said that they plan to resume launches of commercial satellites in 2011.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Wednesday, May 13
A new ‘Boost!’ for space transportation companies
ESA — 6:12 am ET (1012 GMT) Elon Musk Is Out to Rule Space. Can Anyone Stop Him?
Wired — 6:11 am ET (1011 GMT) AST SpaceMobile ‘Optimistic’ About New Glenn Pad Return
Aviation Week — 6:08 am ET (1008 GMT) AST SpaceMobile Confirms Target for 45 BlueBirds This Year, Despite Blue Origin Launch Failure
ViaSatellite — 6:06 am ET (1006 GMT) ULA to prep future Vulcan launch for Amazon despite rocket investigation
Orlando Sentinel — 6:06 am ET (1006 GMT) |
