Spanish infrastructure firm Abertis has sold its remaining 5.01% stake in satellite operator Eutelsat to qualified investors for a total of €275 million.
With the move, Abertis, which first acquired a 32% stake in Eutelsat in 2006, has divested its final ownership interest in the firm following various sell-offs over the last two years.
In January 2012, Abertis sold 16% of its Eutelsat shares, generating €981 million. In June of the same year, Abertis sold 7% of the satellite operator to China Investment Corporation for €385.2 million. Finally, in March 2013, it sold an additional 3.15% through an accelerated process of placement, creating revenues of €182 million.
Abertis operates in 11 countries in Europe and America and manages toll roads and telecoms infrastructure.