PanAmSat

KKR led the 2004 leveraged buyout by purchasing a 44% stake in the company. Carlyle and Providence each invested 27%, with management representing the remainder of the equity. The consortium invested only US$550 million in equity, financing the remainder through bank loans and bonds. The transaction closed in August 2004. One month after the buyout, the company issued an additional US$250 million in discount notes used to pay the consortium dividends. Three months later, PanAmSat filed an initial public offering with the Securities and Exchange Commission (SEC). In an ironic twist of fate, its private equity owners sold PanAmSat to its archrival Intelsat in August 2005 for a total of US$4.3 billion in a deal finally consummated in July 2006. At the time of its sale, PanAmSat was the world's leading carrier of TV channels. In combination with INTELSAT (which had also gone private under private equity ownership in 2001), the new company — called Intelsat — is the world's largest commercial satellite company, with 53 spacecraft serving over 200 countries, with nearly 1400 employees. In March 2007, Forbes magazine estimated the net worth of Rene Anselmo's widow, Mary Anselmo at US$1 billion. Anselmo, 78, lives in Greenwich, Connecticut. == Satellite fleet ==