Spacecom is to be sold to the Chinese-backed Luxembourg Space Telecommunications for $285 million.
Luxembourg Space Telecommunications is owned by the Chinese communications company Beijing Xinwei Technology.
Spacecom, which is controlled by Bezeq Israeli Telecommunication, has been looking for a buyer for two years.
The company’s Amos fleet currently consists of four satellites.
Its primary customers include the Israeli DTH operator Yes and also has customers in Central & Eastern Europe and Africa.
The Amos 6 communications satellite is scheduled to be launched from Florida’s Cape Canaveral the first week of September. It will replace Amos 2, which is due to be retired this year, with double the older’s satellite capacity.
The purchase will require shareholder and regulatory approval.