Hungary’s 4iG to buy controlling stake in Israeli satellite firm Spacecom

JERUSALEM: Israeli satellite operator Spacecom said on Tuesday that Budapest-based 4iG agreed to buy a 51% stake in the company for $68 million through a private shares placement.

The deal values Spacecom at above $124 Million and represents a 50% premium over the average $2.6 price per share from the last six months trading average on the Tel Aviv Stock Exchange, it said.

The companies had announced a preliminary agreement in June.