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BRIEF-Eutelsat reaches agreement with Abertis on sale stake in Hispasat
May 19, 2017 / 6:33 AM / 6 months ago

BRIEF-Eutelsat reaches agreement with Abertis on sale stake in Hispasat

May 19 (Reuters) - EUTELSAT

* AGREEMENT REACHED WITH ABERTIS ON SALE OF EUTELSAT STAKE IN HISPASAT

* EUTELSAT COMMUNICATIONS (PARIS:ETL) (EURONEXT PARIS:ETL) AND ABERTIS GROUP HAVE REACHED AN AGREEMENT ON SALE OF EUTELSAT‘S 33.69% STAKE IN HISPASAT TO ABERTIS

* AGREED PRICE FOR EUTELSAT‘S STAKE IS EUR 302 MILLION, REPRESENTING AN EBITDA MULTIPLE OF 7.1X BASED ON HISPASAT‘S 2016 RESULTS

* FOLLOWS INITIATION OF PROCESS IN JULY 2016 WHEN EUTELSAT EXERCISED PUT OPTION GRANTED IN 2008 BY ABERTIS, HISPASAT‘S MAJORITY SHAREHOLDER.

* CLOSING EXPECTED IN SECOND HALF OF CALENDAR YEAR 2017 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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