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Abertis Completes Purchase of 32% of Eutelsat |
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BARCELONA, Jan. 25, 2007/Satnews Daily/ — Spain’s leading private transport and communications infrastructure management corporation Abertis, through its telecommunications, subsidiary Abertis Telecom, has completed the purchase of 32 percent of European satellite operator, Eutelsat Communications, via a cash payment of €1.07bn ($1.28 billion).
Abretis said the transaction was financed with a bridge loan taken out with la Caixa, BSCH, Citibank, Barclays, RBS and HVB (Unicredito group). It added the purchase went through after all anti-trust requirements were complied with.
The deal makes abertis telecom the leading shareholder of Eutelsat Communications, the third largest satellite operator in the world with a market share of 30 percent in Europe and 13 percent world wide, with a fleet of 23 satellites in geo-stationary orbit.
With the purchase, Abertis telecom has now obtained four directors – out of ten – on the board of Eutelsat, the same number held by the shareholders having sold a total of 32 percent stake of the share capital: Nebozzo (Texas Pacífic Group, Spectrum), Cinven and Goldman Sachs.
The company said the entry of Abertis Telecom in Eutelsat marks a significant qualitative leap in Abertis’ telecommunications subsidiary’s growth strategy. It is a major step in terms of international expansion, marking Abertis Telecom’s first foray beyond Spain and underpinning the strategic decision to take all the abertis group’s businesses to France.
It added the deal is an equally important quantum leap in terms of technology as it complements Abertis Telecom’s strong presence in wireless and terrestrial signal transmission with a satellite transmission network.
In its last fiscal year, ended June 30, 2006, Eutelsat recorded revenues of €791 million ($1.025 billion), EBITDA of €617 million ($799 million) (78 percent margin) and net profit, before extraordinary items, of €102 million ($132 million). In the last four years the company has invested €844 million ($1.093 billion). In relation to key financial indicators, it is important to highlight Eutelsat’s long-term customer order backlog, which currently stands at €4,000 million ($5.18 billion).
Operating activities, at June 30, 2006 break down in terms of magnitude as follows: 67 percent of Eutelsat’s revenues are generated from Video Applications 21 percent from Data and Value-Added Services, 9 percent from Multi-usage and 3 percent from other activities.
Eutelsat is one of the main shareholders of Hispasat, the Spanish satellite service provider, with a 27.7 percent stake.
With capacity commercialized on 23 satellites that provide coverage over the entire European continent, as well as the Middle East, Africa, India and significant parts of Asia and the Americas, Eutelsat is one of the world's three leading satellite operators in terms of revenues. As of Dec. 31, 2006 Eutelsat’s satellites were broadcasting over 2,400 television channels, of which over 1.000 channels were broadcasting via its Hot Bird video neighborhood, which serves more than 120 million cable and satellite homes in Europe, the Middle East and North Africa.
The Group’s satellites also serve a wide range of fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsat's broadband subsidiary, Skylogic, markets and operates services through teleports in France and Italy that serve enterprises, local communities, government agencies and aid organizations in Europe, Africa, Asia and the Americas.
Recent Stories: Abertis Telecom Agrees to Buy a 32% Stake in Eutelsat |
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