Spain’s giant infrastructure company Abertis is selling seven per cent of its stake to China Investment Corp (for €385 million). This sale leaves Abertis with an 8.45 per cent holding having already sold down a 16 per cent stake in Eutelsat on January 13th.

That sale valued Eutelsat overall at about €6.1 billion. This sale, at a lower cost/share, values Eutelsat at some €5.5 billion.

CIC cannot take possession of the stock until mid-July, when an Abertis ‘lock-in’ expires. Abertis will make about €237 million in capital gain on the sale.

In a statement, Eutelsat said CIC would be a passive investor and would not take a seat on Eutelsat’s board.

Abertis still holds a 46.6 stake in Hispasat (which also has Eutelsat as an investor).

Other posts by :

1. Starlink: 10m customers and counting
2. SES predicts end of ‘big’ Geo satellites
3. Amazon Leo gets approval for 4,504 extra satellites
4. SpaceX gets a portion of India
5. TerreStar wants to build LEO network
6. Musk: “No Starlink phone”
7. Russia accused of eavesdropping on satellites
8. FCC welcomes Musk’s 1m satellite plan
9. Telesat has problems with an LEO

Categories: Articles, Business, DTH/Satellite, M&A