Fri. Feb 22nd, 2019

Abertis sells Hispasat for 949 million to Red Eléctrica

Abertis vende Hispasat por 949 millones a Red Eléctrica



After months of negotiations, Red Eléctrica takes control of Hispasat for 949 million euros. This is the second disinvestment made by the concessionaire Abertis, since it is controlled by the ACS construction group and the Italian Atlantia. Previously, he sold the cellphone antenna company Cellnex.

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At the end of last year, the current president of Red Eléctrica, Jordi Sevilla, in the presentation of the new strategic plan, refused to give clues as to whether the public company was still interested in taking over Hispasat, negotiations that had been undertaken by the previous leadership. "Everything depends on the price," he said.


Financing

External debt

When financed with external debt, it will not affect the shareholder of the electric operator






The operation will be integrated into the accounts of the operator of the electricity network with effect from January 1. It will be financed with external debt, and therefore, without recourse to the shareholder.

Abertis said in his statement that the closing of the operation "is expected during the first half of the year," with the approval of the council of ministers, since it is necessary because it is a strategic asset for the State.

The owners of Abertis will allocate the amount obtained with the operation to pay part of the 'macrocredit' they signed to take Abertis.



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