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Abertis sells half Eutelsat stake

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  • rickbell
    Member
    • Feb 2011
    • 88

    Abertis sells half Eutelsat stake

    Spanish infrastructure company Abertis has sold half of its stake in satellite operator Eutelsat for €396 million.

    Plans to dispose of 16% of the holding were made public in a filing with the Spanish stock market regulator, which said Credit Suisse Securities, Morgan Stanley and Societe Generale Corporate & Investment Banking would handle the transaction.

    Abertis plans to use the funds for further investment and to pay off debts.

    The company is retaining a 15.35 per cent share in Eutelsat, on which a six-month lock-up period applies.

    In mid-morning trading on the Paris Stock Exchange, Eutelsat had lost -2.55% of its value.
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