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Abertis completes acquisition of Hispasat majority stake

Abertis has finally taken a majority stake in Spanish satellite operator Hispasat with the purchase of a further 16.4% of shares for EUR172.5 million (USD231.3 million) from the National Institute for Aerospace Technology (INTA), part of the Ministry of Defence.

The deal, confirmed by the company with the Madrid stock market on 12 November following clearance from competition authorities, gives Abertis a 57.05% stake.

Abertis said that in taking "exclusive control", it would now commit itself to developing "the full growth potential" of Hispasat with public and private sector clients.

The Barcelona-based infrastructure group has spent EUR475 million on securing its stake in the operator, having first bought 28.4% of the shares in 2007.

It secured a further 5% stake from European defence conglomerate EADS at the end of 2008 before purchasing the stake of former Spanish national telephone company Telefonica.

Government participation in Hispasat, which launched its first satellite in 1992, is now less than 10%, with state-holding company Sociedad de Participaciones Industriales (SEPI) having 7.4% and the Centre for Industrial and technological Development (CTDI) 1.8%.
The other main shareholder is Eutelsat, which has a 33.6% stake.

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