GECs
Asiasat to be privatised
MUMBAI: Asian satellite service provider Asiasat has said that its major shareholder plans to take the company private to allow management to focus on business development in a competitive market.
Under the proposed privatisation there will be a scheme of arrangement under which all shares, including all shares underlying American Depositary Shares (ADS), not already held by Asiasat’s controlling shareholder will be cancelled in exchange for the share offer price of HK$18.30 per share.
For Asiasat shareholders, the cancellation price of HK$18.30 per share represents a premium of approximately 30.7 per cent over the closing price of HK$14 per share as quoted on the Hong Kong Stock Exchange on 8 February 2007, the day prior to the suspension of Asiasat’s shares.
An announcement said that the privatisation follows persistent over-supply of transponder capacity and the slow introduction of new applications in the Asia-Pacific region. As a result, the satellite market in the region remains very competitive, and Asiasat’s share price has not performed satisfactorily.
The offeror is a BVI incorporated company jointly owned by Able Star, an indirect wholly-owned subsidiary of CITIC Group, and GE Equity, an indirect wholly-owned subsidiary of General Electric Capital Corporation. The General Electric group is also proposing to acquire an interest in AsiaSat’s controlling shareholder. On completion of the acquisition and the privatisation, Asiasat will be jointly indirectly owned by CITIC Group and General Electrical Capital Corporation.
In the three year period prior to the announcement date, the price of AsiaSat’s shares decreased by 11.9 per cent compared to an increase of 51.1 per cent in the Hang Seng Index over the same period. The proposed privatisation would give the management of AsiaSat greater flexibility to focus on the development of business and marketing activities.
It would also relieve Asiasat of the heavy financial and administrative burden of dual listings on both the Hong Kong Stock Exchange and the New York Stock Exchange, which are disproportionate to the benefits of maintaining such listings. The proposed privatisation is subject to a number of conditions. It is the intention of Offeror to maintain the existing business of AsiaSat upon the successful privatisation of AsiaSat. No major changes to the existing operating and management structure are expected to be introduced as a result of the implementation of the privatisation. For AsiaSat customers, there will be no change.
The total amount of cash required to effect the privatisation is approximately HK$2,235 million, which will be financed with from the existing resources of CITIC Group and GE Equity.
GECs
Pocket FM partners with Indian Open Pickleball 2026
Audio platform joins forces with major tournament to engage young fans.
MUMBAI: Pocket FM just served up a perfect partnership because when audio storytelling meets pickleball’s fast-paced rallies, even the sidelines start listening. Pocket FM, the world’s largest audio series platform, has announced a strategic partnership with Indian Open 2026, one of India’s biggest pickleball tournaments organised by Global Sports in Hyderabad in association with Pickl’Out and Crosscourts Sports Club.
The collaboration brings Pocket FM’s immersive storytelling to one of the fastest-growing emerging sports in India. Pickleball, known for its accessibility, energy and strong community appeal, is rapidly attracting younger, digitally savvy audiences making it an ideal platform for Pocket FM to deepen its cultural relevance.
Under the partnership, Pocket FM will enjoy extensive on-ground and digital visibility throughout the tournament, which begins on 1 April 2026. This includes centre court branding, venue-wide presence, presenting rights for select matches, player lounge branding, team jersey integration, and strong integration across live streaming and social media.
Pocket FM, SVP and global head for brand marketing and partnerships Vineet Singh said, “Pickleball is building a strong connection with young and engaged audiences in India. This partnership allows us to connect with people in a meaningful way through strong on-ground presence and digital visibility.”
Global Sports and Indian Open 2026, founder Hemal Jain added, “Partnering with Pocket FM adds an exciting new dimension to the experience. As a brand that has built deep resonance with young audiences, Pocket FM is a strong fit for the energy and ambition of this tournament.”
The move reflects Pocket FM’s continued strategy of aligning with emerging passion points and building deeper engagement with communities driven by competition and shared experiences.
In a country where sports and stories often collide, Pocket FM isn’t just sponsoring a tournament, it’s turning every rally into a narrative, proving that the best audio moments sometimes happen when the paddle meets the ball.
