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·  December 19th, 2008 , Barcelona

Spanish cabinet gives the green light to acquire 5% of Hispasat from EADS/CASA

With a 33.4% stake, abertis strengthens its position as the main shareholder in the Spanish satellite system

The Spanish Cabinet agreed today to authorise the purchase by abertis, through its telecommunications company abertis telecom, of 5% of Hispasat from EADS/ CASA. With this 35 million-euro operation, first announced last October, abertis increases its stake in the Spanish satellite operator to 33.4%, strengthening its position as the main shareholder.

The increase in abertis telecom’s stake in Hispasat responds to its strategic positioning in the satellite business. This strategy rounds off abertis telecom’s position in the terrestrial signal transmission network with a satellite transmission network and broadens the geographical scope of abertis’ telecommunications business.

In July, abertis acquired 28.4% of Hispasat for €199 Mn from Ensafeca Holding Empresarial (previously Auna) and BBVA, private shareholders in Hispasat, following clearance from the European anti-trust authorities and the Spanish government, which had already agreed to authorise the acquisition in February.

Hispasat’s current fleet consists of 3 satellites (Hispasat 1C and 1D and Amazonas 1), which give coverage over Europe, North Africa and America. These satellites provide audiovisual and business services, broadband solutions and advanced communications systems. Through Hisdesat, two other satellites are managed (Spainsat and Xtar-Eur), which give services to government.

With over 1,000 TV and radio channels broadcast, Hispasat is the leading operator in communications in Spanish and Portuguese and the main communications bridge by satellite between Europe and America. In the coming years, Hispasat plans to launch three new satellites, which will double its space orbiting capacity. In 2007, Hispasat recorded income of 128 million euros, an Ebitda de 101 million euros and a net profit of 36 million euros. 

 

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