Spanish infrastructure giant Abertis has taken full control of satellite operator Hispasat. Abertis bought a 16.4 per cent stake through its wholly-owned subsidiary Abertis Telecom.
The 16.4 per cent stake was bought from Spain’s state-owned National Institute for Aerospace Technology (INTA). Abertis paid €172.5 million for the stock, and now controls 57.05 per cent of the satellite operator.
Other shareholders include Eutelsat (33.69 per cent), and two Spanish state-backed enterprises Sociedad Estatal de Participaciones Industriales (Sepi, 7.41 per cent) and CDTI (1.85 per cent).
Abertis says “As the majority shareholder and industrial operator, will take exclusive control of the company and commits to fully develop Hispasat’s growth and value creation potential.”
Abertis is on record as saying that it looks to double Hispasat’s revenues to €600 million by 2022.