Eutelsat: sale of stake in 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


Copyright (c) 2017 CercleFinance.com. All rights reserved.