Abertis bidders Atlantia, Hochtief, make progress in talks over Hispasat - report (translated)
12 FEB 2018
The two Abertis [BME:ABE] bidders Atlantia [BIT:ATL] and Hochtief [FRA:HOT] (German unit of Spanish infrastructure group ACS [BME:ACS] are making progress in their talks with the Spanish Ministry for Energy over Hispasat, Europa Press reported.
According to the article, which cited sources privy to the discussions, the two companies are moving forward in their efforts to obtain the relevant authorisation for the satellite subsidiary of the Spanish motorway concessionaire.
Although Hispasa is not of interest to any of the bidders, that have already declared their intention to sell if their takeover bids succeed, both companies must request the mandatory authorization of the Ministry of Energy, since satellites is a sector considered strategic for the Spanish state.
A possible delay in completing this procedure derives from the companies’ ignorance regarding the satellite sector, the report went on to say. The Ministry of Energy has given both Atlantia and Hochtief, in the various contacts maintained, appropriate guidance on the documents to submit, Europa Press said.
As reported, Abertis agreed to sell 57% of Hispasat to Red Electrica de Espana [BME:REE] (REE) for EUR 656m. Abertis also plans to transfer to REE its deal to acquire 33.69% of Hispasat held by French firm EutelsatCommunications [EPA:ETL].
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