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Satnews Daily
April 19th, 2018

Eutelsat Communications Sells Their Stake in Hispasat

Eutelsat Communications (Euronext Paris:ETL) has announced that the company's 33.69 percent stake in the Spanish satellite operator, Hispasat, has been sold for a consideration of 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 rationalizing their portfolio of assets in order to maximize cash generation.