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General

Abertis buys Eutelsat's stake in Hispasat for EUR 302 mln

Friday 19 May 2017 | 11:31 CET | News
Eutelsat has announced an agreement to sell its 33.69 percent stake in Spanish satellite operator Hispasat to majority shareholder Abertis for EUR 302 million. The transaction process began in July when Eutelsat said it had exercised a put option granted by Abertis in 2008. The price that was finally agreed for Eutelsat's stake represents an EBITDA multiple of 7.1x based on Hispasat's 2016 results, said Eutelsat, adding that the transaction is expected to close in the second half of 2017 and is subject to Spanish government approval.

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Categories: General
Companies: Abertis / Eutelsat / Hispasat
Countries: Spain
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