Fri. Feb 22nd, 2019

Abertis sells Hispasat to Red Eléctrica for 949 million | Economy

Abertis sells Hispasat to Red Eléctrica for 949 million | Economy



Abertis, through its subsidiary Abertis Telecom Satellites, has reached an agreement with Red Eléctrica Corporación for the sale of its 89.7% stake in Hispasat, for an amount of 949 million euros, the company informed the CNMV today. in a relevant fact. The State Company of Industrial Participations (SEPI) Y Center for Industrial Technological Development (CDTI), both public, will keep the remaining 10.3% of the capital.

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The toll road concessionaire, controlled by ACS and the Italian company Atlantia, plans to allocate the net amount obtained from this divestment to partially repay the short-term financing tranche linked to divestments of the Abertis acquisition debt.

The closing of the operation, which is subject to approval by the Council of Ministers, the competition authorities in Spain and Portugal, as well as other regulators' usual authorizations, is expected during the first half of 2019.

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