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BRIEF-CMMB Vision Says Silkwave Holdings Entered Final Terms Of Agreement For JV Co With Saudi Party

PUBLISHED: Mon, 12 Apr 2021 14:00:22 GMT

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April 12 (Reuters) – CMMB Vision Holdings Ltd:

* SILKWAVE HOLDINGS LIMITED ENTERED FINAL TERMS OF AGREEMENT FOR A JV CO WITH A SAUDI PARTY

* JV CO EXPECTED TO HAVE NO LESS THAN US$100 MILLION FOR INITIAL CAPITALIZATION

* JV CO TO DEVELOP & OPERATE L-BAND SATELLITE CONNECTED-CAR MULTIMEDIA PLATFORM SERVICING MIDDLE EAST AND AFRICA

* SILKWAVE TO CONTRIBUTE IN-KIND CAPITAL WITH ITS SATELLITE SPECTRUM AND ORBITAL ASSETS, & SAUDI PARTY TO CONTRIBUTE CAPITAL Source text for Eikon: Further company coverage:

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