Spain’s council of ministers has issued authorisation to Abertis and the Centre for Industrial Technological Development (CDTI) for the purchase of 33.69% in Hispasat currently held by Eutelsat Communications.
The purchase means Abertis will hold 89.68% of the satellite company seen as a key asset by the Spanish government because it runs the country’s satellite communications.
Abertis, which already holds 57.05% of Hispasat, will control 89.68%, while CDTI will increase its stake from 1.85% to 2.91% and Sociedad Estatal de Participaciones Industriales (SEPI) will hold 7.41%.
The Abertis stake will ultimately be sold on to the utility company Red Eléctrica.
During the protracted sale of infrastructure company Abertis, suitors Atlantia and ACS both sought permission to acquire Hispasat indirectly.