Spain’s Abertis sells 7% of Eutelsat to Chinese investors | News | Rapid TV News
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Spanish group Abertis, that manages international mobility and telecommunications infrastrutures, has closed the sale of 7% of satellite operator Eutelsat to Chinese Investment Corporation (CIC).

The deal was reached for a total amount of €385.2 million, and generates a net capital gain of €237 million for Abertis.

The transaction follows Abertis’ January sale of 16% of Eutelsat in a private placement among qualified investors. However, Abertis will remain a Eutelsat shareholder, with a stake of 8.35%. On Friday, Eutelsat’s share jumped to €24,25, up 4.1 %.

"In compliance with the terms agreed by Abertis in the January placement of Eutelsat stake, CIC has agreed not to dispose of the acquired shares during the period that remains from the initial 6 months", Abertos comments in a statement.

Spanish group is still reshuffling its holdings in the satellite infrastructure business, specifically targeting projects in which it can take an industry leadership role and a greater financial consolidation, as in the case of Hispasat. It recently raised its share into Hispasat to 47 % to become the first shareholder of the satellite operator.