LONDON-ICO Global Communications said the due diligence process of Eagle River Investments L.L.C.’s investment in the company has been extended, to be completed no later than by Jan. 18.
Eagle River is Craig McCaw’s investment arm. McCaw leads a group of investors bailing out the global satellite company, which is in Chapter 11 bankruptcy protection. The due diligence concerns $275 million of second-tranche debtor-in-possession financing, not expected to be drawn upon until Jan. 28.
