PARIS – Eutelsat Communications ( ETL) announces that its 33.69% stake in the Spanish satellite operator, Hispasat, has been sold for a consideration of 302 million euros. The transaction concludes an agreement reached in May 2017 between Eutelsat and Abertis which was recently approved by the Spanish Council of Ministers, thereby lifting the last condition precedent to its completion. The divestment of Eutelsat’s stake in Hispasat is in line with the Group’s strategy of rationalising its … [Read more...] about Eutelsat 33.69% stake sold to Hispasat for 302 million euros
Hispasat
Eutelsat Corporate makes agreement with Abertis
Paris - Eutelsat Communications and Abertis Group have reached an agreement on the sale of Eutelsat’s 33.69% stake in Hispasat to Abertis. It follows the initiation of the process in July 2016 when Eutelsat exercised the put option granted in 2008 by Abertis, Hispasat’s majority shareholder. The agreed price for Eutelsat’s stake is €302 million, representing an EBITDA multiple of 7.1x based on Hispasat’s 2016 results. The closing of the transaction is subject to Spanish government approval … [Read more...] about Eutelsat Corporate makes agreement with Abertis
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