Abertis quits Eutelsat

Spanish infrastructure giant Abertis is selling its entire remaining stake in Eutelsat, which represents 5.01 per cent of the satellite company’s shares.

UBS and Barclays Bank are acting on behalf of Abertis.

In January 2012 it sold 16 per cent of its stake in Eutelsat, for €981 million. In June 2012 Abertis sold a 7 per cent holding in Eutelsat to China’s CIC Investment Corporation. A year later it used the cash to acquire an extra 16.42 per cent of Hispasat, which took its total holdings in Hispasat to 57.07 per cent.

The news helped drive Eutelsat share price near to a 12-month high of €25.73.

Posted by on Jun 3 2014. Filed under Articles, Business, DTH/Satellite, M&A.

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