Inmarsat to receive $50.75m settlement from RigNet
Inmarsat confirmed on Monday that it has agreed a final settlement with RigNet of all claims in respect of the arbitration case at the International Centre for Dispute Resolution relating to its GX take-or-pay contract.
FTSE 250
20,427.80
17:09 12/11/24
n/a
n/a
FTSE 350
4,434.53
17:09 12/11/24
n/a
n/a
FTSE All-Share
4,393.14
16:34 12/11/24
n/a
n/a
Inmarsat
544.40p
07:56 04/12/19
0.00%
0.00p
Mobile Telecommunications
1,931.74
16:59 24/01/22
-5.68%
-116.28
The satellite communications company will receive a final settlement of $50.75m. This will be paid in three instalments, the first two of which will total $50m, to be paid before the middle of next month.
Back in March, Inmarsat agreed to be taken over by a consortium led by private equity firm Apax Partners for $3.4bn. The consortium includes Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan.
At 1310 BST, the shares were down 0.5% at 542p.