CSG Acquires Largest Stake in Canada's MDA Space

By Adrian Cole

Czechoslovak Group (CSG), a Czech industrial and defense conglomerate, has announced its acquisition of a 9.5% equity stake in MDA Space, a Toronto/New York-listed company. This investment, valued at approximately $434 million, positions CSG as the largest shareholder in MDA Space as of October 13, 2026.

CSG's investment is part of its strategic move to expand its capabilities in the space sector, complementing its existing defense and aerospace operations. The company has established a dedicated space team to guide this expansion, with key appointments including Ladislav Stahl as Head of Space Strategy and Technology, Filip Kocián as Space Director for Corporate Development, and Cameron McKenzie as Senior Adviser for Canadian market expansion.

MDA Space, known for its technological capabilities in satellites, robotics, geointelligence, and space operations, sees CSG as a strategic investor. Mike Greenley, CEO of MDA Space, stated that CSG's involvement will enhance the company's investor base in Europe and support its international growth plans.

In July 2026, MDA Space raised approximately $819 million through a bought-deal offering of 23 million common shares. The company also announced a firm offer to acquire a 70% stake in CLS (Collecte Localisation Satellites) for €567 million (C$920 million).

While CSG claims to be the largest shareholder in MDA Space, this ranking has not been independently confirmed through regulatory filings or official statements from MDA Space.