ST Engineering Closes Acquisition
Chicago, IL – RCBG, a strategy and advisory firm specialized in TMT [telecom, media, technology], shared the closing of the acquisition by its client, ST Engineering (Singapore Technologies Engineering Limited), of the Newtec Group NV (Newtec), a leader in high-throughput satellite, broadband, mobility, and video distribution products and technology, following the completion of conditions and applicable regulatory approvals in the United States and Europe.
The €250M share purchase in cash for 100% ownership of Newtec, on a cash- and debt-free basis, was announced earlier in 2019. Newtec will be renamed as ST Engineering iDirect (Europe) NV.
RCBG served as the strategic advisor to ST Engineering.