On February 12, Abertis Infraestructuras, S.A. (Abertis) announced that, through its subsidiary Abertis Telecom Satélites, S.A., it entered into an agreement with Spanish power company Red Eléctrica Corporación (REC) pursuant to which REC, through its subsidiary Red Eléctrica Telecommunications Systems, will purchase the entirety of Abertis’ roughly 89.7% ownership interest in Hispasat, S.A. (Hispasat) for approximately $1.08b. Abertis stated that its divestment from Hispasat is consistent with its strategic objective to focus exclusively on the operation of toll roads. The transaction, which REC is funding with debt, remains subject to regulatory approvals and is not expected to close until the second quarter of 2019, at the earliest.
Read more related news in Space Business Review February 2019.
