The parent company of fixed satellite services provider Intelsat has been bought by private equity investors Serafina Holdings for $16.5 billion (£8.3m).

Serafina Holdings - which includes UK-based BC Partners amongst its number - completed the transaction on Monday.

Intelsat cost around $5m with the rest of the cash being used to cover debts.

The previous investors - which includes Apax Partners - have all sold 100% of their stake.

Intelsat's current executives will remain in place and have an equity interest in Serafina Holdings, which is expected to be renamed Intelsat Global, Ltd.

Raymond Svider, a managing partner at BC Partners, said: “Intelsat is a rare investment opportunity, providing revenue diversity, stability and global presence combined with attractive growth potential.”

Intelsat provides fixed satellite services (FSS) worldwide, delivering transmission access for information and entertainment to media and network companies, multinational corporations, Internet service providers and governmental agencies.

Intelsat also offers service for voice, data and video transmission.

Live Earth was broadcast via Intelsat to an estimated global audience in excess of two billion people in July of 2007.