Red Eléctrica acquisition of 89.68% of Hispasat
Spain's grid operator bought control of satellite operator Hispasat from Abertis; SEPI (7.41%) and CDTI (2.91%) kept their stakes.
- Company
- Hispasat
- Type
- M&A
- Status
- Completed
- Date
- 3 Oct 2019
- Value
- €933m
- US$ equivalent
- US$1.0bn
- Value basis
- €933m for 89.68% at completion (announced at €949m); financed with external non-recourse debt
- Region
- Spain
- Segment
- Satellite operators
Parties
- Red Eléctrica Corporación (via RESTEL) buyer
- Abertis seller
Key terms
- Stake
- 89.68%
- Price at completion
- €933m
- Announced
- 12 Feb 2019 at €949m
- Financing
- External debt, non-recourse
Sources
- Red Eléctrica: agreement with Abertis to acquire 89.68% of Hispasat for €949m ree.es · 12 Feb 2019
- Redeia: Red Eléctrica successfully completes the acquisition of Hispasat redeia.com · 13 Nov 2019
Record ORB-INV-2019-0009. Investments are kept apart from the financings register and never counted in debt totals.
