Abertis: agreement with Eutelsat for Hispasat.
(CercleFinance.com) - French satellite operator Eutelsat Communications has announced an agreement with the Spanish infrastructure group Abertis regarding the sale of the 33.
69% stake it holds in Hispasat.
This follows Eutelsat's July 2016 decision to proceed with the sale of its stake in Hispasat by exercising the sale option granted by Abertis - the majority shareholder of Hispasat - in 2008.
Eutelsat will sell its stake for 302 million euros, meaning a multiple of EBITDA of 7.1x. The transaction is expected to be completed in the second half of 2017 and is subject to the usual prerequisites for such deals.
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