Abertis freezes Hispasat sale until Atlantia, Hochtief takeover bid process ends - report (translated)
12 JAN 2018
Abertis Infraestructuras [BME:ABE] has decided to halt the immediate sale of its subsidiary Hispasat until after the acquisition bids of Atlantia [BIT:ATL] and Hochtief [HOTG:DE], the German unit of ACS [BME:ACS], reported CincoDias.
Just one month ago, Abertis was ready to sell to Red Electrica de Espana [BME:REE] (REE) its 57% stake in the satellite group and the 33.69% rights it was to acquire from France-based Eutelsat [EPA:ETL].
But the transaction, which would give REE control of 90.74% of the satellite company for about EUR 1bn and allow Abertis to get rid of a non-strategic asset, has been halted until the bidding process is resolved, the report said, citing unspecified sources.
Abertis declined to comment, the Spanish-language paper said.
Given that the pulse between Atlantia and Hochtief could be extended beyond April, the sale of Hispasat to REE may not be closed until the summer, Cinco Dias noted.