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Eutelsat completes €302 million sale of Hispasat stake

Eutelsat has completed the sale of its 33.69% stake in Spanish satellite operator, Hispasat, to Abertis for €302 million.

Hispasat’s control centre

Eutelsat said that the divestment of its Hispasat stake is in line with its strategy of rationalising its portfolio of assets in order to maximise cash generation.

The deal was completed following its recent approval by the Spanish Council of Ministers.

Eutelsat and Abertis originally agreeing terms in May 2017 and at the time expected the deal to close in the second half of 2017.

The sale process was first initiated in July 2016 when Eutelsat exercised the put option granted in 2008 by Abertis, Hispasat’s majority shareholder.