NEW YORK (Reuters) - Intelsat Ltd., the world's No. 2 communications satellite operator, on Friday said Zeus Holdings Ltd. completed its purchase of the company in a transaction valued at about $5 billion, including about $2 billion of assumed debt.

Zeus is a private equity group formed by a consortium of funds advised by Apax Partners, Apollo Management, Madison Dearborn Partners and Permira. Shareholders of Pembroke, Bermuda-based Intelsat, which carries voice, video and data traffic, received $18.75 for each of their shares.

Merrill Lynch & Co. and Morgan Stanley advised Intelsat on the transaction, while Credit Suisse First Boston, Goldman Sachs & Co. and Lehman Brothers Inc. advised Zeus. The sale was announced last August.