Sat. Apr 20th, 2019

Red Eléctrica buys Hispasat from Abertis

Red Eléctrica buys Hispasat from Abertis


Abertis, through its subsidiary Abertis Telecom Satellites, has reached an agreement with Red Eléctrica Corporación to sell its 89.7% stake in Hispasat, for an amount of 949 million euros. The company plans to allocate the net amount obtained from this divestment to partially repay the short-term financing tranche linked to divestments in Abertis acquisition debt.

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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.

As a result of this operation, after obtaining the corresponding administrative authorizations, Abertis will not have any stake in Hispasat, in line with its sectoral targeting strategy with the aim of becoming a pure motorway operator.

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