IPOB Stock – Richard Branson to announce satellite signing on Spac’s $ 3 billion listing
Branson’s Virgin Group empire owns 80 per cent of the low earth orbit satellite business. Mubadala, the Abu Dhabi sovereign fund, owns the remaining shares. The $3bn deal could be announced in the coming weeks, insiders said.
A listing would mark a major step forward in Branson’s efforts to expand his business empire into the rapidly growing space sector. Mattson is a director of Virgin Galactic and was also a director of Delta Air Lines for almost nine years.
Virgin Orbit has reportedly been seeking a Spac deal for several months and has held talks with multiple prospective partners. He was previously a partner at Goldman Sachs, working with clients in the general industrials sector for a decade.
In 2019 he merged his space tourism firm Virgin Galactic with blank-cheque firm Social Capital Hedosophia. It would also mark the British billionaire’s latest blank-cheque deal amid a Spac frenzy on Wall Street.
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