Abertis Closes the Sale of 7% of Eutelsat to China Investment Corporation
According to the press release, “abertis agreed to sell 7% of Eutelsat to China Investment Corporation (CIC) for €385.2 million. The transaction, which generated net capital gains of €237 million, follows abertis’ January sale of 16% of Eutelsat in a private placement among qualified investors. abertis will remain a Eutelsat shareholder, with a stake of 8.35%.
In compliance with the terms agreed by abertis in the recent placement of a 16% stake in Eutelsat’s share capital among qualified investors, CIC has agreed not to dispose of the acquired shares (“lock-up”) during the period that remains from the initial 6 months that abertis had agreed.
abertis keeps on reshuffling its holdings in the satellite infrastructure business and strengthening its commitment to growth, specifically targeting projects in which it can take an industry leadership role and a greater financial consolidation, as in the case of Hispasat.”
Read more: Press Release
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