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December 20, 2004

Blink ›

Another billion-dollar IPO


Connecticut-based satellite broadcaster PanAmSat is preparing for a $1 billion IPO, according to the New York Post. Just four months ago, an investor consortium led by buyout specialist KKR acquired the company for $4.1 billion. Unnamed sources noted that "the proceeds from the offerings will be used to put tons of cash in the pockets of PanAmSat's current private equity owners."

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