Abertis sale of Hispasat to REE in final stages - report (translated)
23 OCT 2017
Abertis Infrastructuras [BME:ABE] is in final talks to sell to Red Electrica de Espana [BME:REE] (REE) its satellite company Hispasat, El Confidencial reported, citing sources privy to the process. The parties are aiming to close a deal before the end of October, according to the Spanish-language report.
REE will pay for Hispasat, valued at around EUR 1bn, in cash, the report went on to say. The company’s main shareholder is the Spanish state through the entity SEPI, which controls 20%.
A sale of Hispasat, a strategic asset for the Spanish estate, will ease the sale of Abertis, target of an offer from its Italian counterpart Atlantia’s [BIT:ATL] , the report added.