Abertis sells Hispasat to Red Eléctrica for €949 million
We advised Abertis, via its subsidiary Abertis Telecom Satélites, in relation to the sale of its 89.7% stake in Hispasat, S.A. to Red Eléctrica Sistemas de Comunicaciones (subsidiary of Red Eléctrica Corporación) for €949Mn.
The team was led by Miquel Roca Junyent, Joan Roca and Carlos Blanco and included Alberto Vilalta, associate of the Corporate and M&A department.
Hispasat is the first satellite infrastructure operator in Spain and Portugal by turnover. In 2018, it received revenues of €204 Mn.
One of the biggest deals in the Spanish market in 2019 was negotiated in record time. It was an authentic challenge to manage to reach an agreement for this industry changing transaction within the ambitious calendar set by the client. We had to demonstrate capacity to focus on the key elements of the deal, agility and a pro-deal approach.
The operation is part of the Abertis sector targeting strategy, with the aim of becoming a pure highway operator. The closing of the operation is subject to the approval by the Council of Ministers, the competition authorities in Spain and Portugal, as well as other usual authorizations of regulators. The operation is expected to end during the first half of 2019.
