(Oakbrook Terrace, Illinois)—Christopher L. Picone, President and General Counsel of Picone Advisory Group, LLC is pleased to announce the sale of Sea Launch, SA (“Sea Launch”) to CJSC S7 Group (“S7”), Russia’s largest private aviation holding company. Sea Launch has been a long standing client of Picone Advisory Group and Chris Picone also serves as a member of the Board of Directors of Sea Launch. Prior to the sale, Sea Launch was owned by S.P. Korolev Rocket and Space Corporation Energia, Russia’s premier aerospace company.
The sale was originally announced in September 2016 but required the approval of the Committee on Foreign Investment in the United States (“CFIUS”) before the sale could be completed. CFIUS approval of the transaction was granted earlier this year. As part of the transaction, S7 receives ownership of the Odyssey, a mobile sea-fairing rocket launch platform, the Commander support ship and certain additional equipment and intellectual property. S7 is planning on re- establishing the Sea Launch business under the new name of SL Aerospace.
Sea Launch is a heavy lift commercial telecommunications satellite launch company located in Long Beach, CA.