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·  13 Janvier 2012 , Barcelona

abertis completes an accelerated placement process to qualified investors of a block comprising 16% of Eutelsat

  • abertis, still being a reference industrial shareholder controlling 15.35% stake of Eutelsat, will remain actively engaged, through its Board of Directors, in the management of the company, supporting its development and growth strategy.
  • The proceeds generated from the transaction amounted to 981 million euros and a net book gains at the consolidated level of 396 million.   

abertis has completed today a process of accelerated placing with qualified investors a 16% stake of the European satellite operator Eutelsat, where abertis controlled up to now a 31.3% stake. The placement, managed by Credit Suisse Securities (Europe) Limited, Morgan Stanley & Co. International plc and Société Générale Corporate & Investment Banking, acting as joint bookrunners, has been closed for a purchase price of 27,85 euros per share and has generated proceeds of 981 million euros for abertis, with net book gains at the consolidated level of 396 million. Following the completion of the placement, abertis holds a 15.35% stake in the share capital of Eutelsat.

abertis has agreed to a minimum of six-month lock-up in respect of the Remaining Stake, with certain standard exceptions.

abertis acquired its stake in Eutelsat at the end of 2006 when it reached an agreement with various investment funds to acquire 32% of the European satellite operator. The transaction, valued at 1,070 million euros, represented a payment of 15.50 euros per share. abertis became the largest shareholder of the company and has actively contributed to its development, applying its experience in the infrastructures sector.

Following the completion of the placement of this 16% stake, abertis remains the second-largest shareholder of Eutelsat -in which it maintains, at market value, a share which represents a significant percentage of the satellite operator- with representation on the Board of Directors. abertis will continue to participate actively in the management of the company and support its development and growth strategy. On the other hand, the transaction provides more liquidity to the market value of Eutelsat.

Eutelsat is the leading European satellite operator and one of the three operators in the world for the supply of fixed satellite services with a fleet of 28 satellites. Eutelsat also has 20 positions in the geostationary satellite orbit, covering Europe, Middle East, Africa and much of Asia and the Americas. The Group is headquartered in Paris and employs 700 people among which 28 nationalities are represented.

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