Red Eléctrica Corporación has agreed to buy the 89.68% stake in Spanish satellite operator Hispasat, currently held by Abertis.
Under the anticipated move, electricity company is paying €949 million for the holding that has been in play since before the sale of Albertis in October 2018.
Prior to the sale, in April 2018, Abertis and the Centre for Industrial Technological Development (CDTI) purchased Eutelsat’s 33.69% in the satellite company.
The remaining shareholders in Hispasat are SEPI (7.41%) and CDTI (2.91%).
Hispasat is the number one operator of satellite infrastructure in Spain and Portugal, the fourth operator in Latin America and the eighth operator worldwide, with revenues of 204 million euros in 2018.
It currently has a fleet of 7 satellites providing coverage to Europe and the American continent, distributing more than 1,250 television and radio channels.
Following the sale, Red Eléctrica Corporación has pledged to maintain its strategic commitments.
