Operators Satellite

Eutelsat sells its stake in Hispasat for 302m Euros

The divestment is in line with Eutelsat's strategy to streamline its portfolio of assets in order to maximise cash generation.

Eutelsat Communications has announced that it has sold its 33.69% stake in Spanish satellite operator, Hispasat, for 302 million euros. The transaction concludes an agreement reached in May 2017 between Eutelsat and Abertis, which was recently approved by the Spanish Council of Ministers, thereby lifting the last condition precedent to its completion.

The divestment of Eutelsat’s stake in Hispasat is in line with the Group’s strategy of rationalising its portfolio of assets in order to maximise cash generation.