In the realm of maritime luxury, the quest to offer yacht charter guests the perfect night's sleep has become an art form, one which luxury bed and linen supplier, CC Design, has fully committed to.
The UK government have given the go ahead for the £2.6bn takeover bid for Inmarsat, the UK’s largest satellite company. Inmarsat is one of the market leaders in the maritime communications sector, including yachting where it is currently looking to grow its involvement.
The bid, made in March this year by the Connect Bidco consortium, which included companies Apax Partners from the UK and Warburg Pincus from the US, was subject to an investigation by the UK’s Competition & Markets Authority (CMA) because of national security concerns. A number of Inmarsat services are used by the UK Ministry of Defence.
In response to the concerns, Connect Bidco gave voluntary undertakings to address and safeguard any doubts the UK government might have. These undertakings relate also to a guarantee the retention in the UK of a major part of Inmarsat’s operations and also the making of key strategic decisions. Under the takeover deal, Inmarsat, which has been listed on the London Stock Exchange, will be taken private.
Nicky Morgan, the UK Secretary of State for Digital, Culture, Media and Sport, commented, “The undertakings provide assurance that sensitive information is protected and that enhanced security controls are in place to ensure the continued supply of key services used by the Ministry of Defence.”
Another deal that has raised similar concerns is the £4bn takeover bid for Cobham plc which, like Inmarsat, is actively involved in the yachting communications and electronics sector.
For more information, visit Inmarsat. Sign up to our newsletter to get the best of Yachting Pages delivered direct to your inbox every month.
In the realm of maritime luxury, the quest to offer yacht charter guests the perfect night's sleep has become an art form, one which luxury bed and linen supplier, CC Design, has fully committed to.
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