Italian infrastructure group Atlantia announced that Spanish toll road operator Abertis had agreed to sell its 89.7 percent stake in Spanish satellite operator Hispasat to Red Electrica for €949 million (approximately US$ 1.1 Billion).
In October, Atlantia and Spain’s ACS completed a €16.5 billion acquisition of Abertis.
Hispasat recorded €235 million in revenues last year, with profits of €80.5 million. The purchase will leave the Spanish state (via its Sociedad Estatal de Participaciones Industriales) holding 7.4 per cent and Spain’s Center for the Development of Industrial Technology with the remaining 2.9 per cent.
Red Eléctrica’s existing telco-related business has revenues of some €330 million and manages Spain’s second-largest fiber system.
Hispasat is the leading provider of satellite infrastructure in Spain and Portugal, the fourth largest operator in Latin America and the eighth operator worldwide, with revenues of 204 million euros in 2018.
Hispasat currently has a fleet of 7 satellites providing coverage to Europe and the American continent, distributing more than 1,250 television and radio channels.
