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Paris, 8 August 2016 - Eutelsat Communications (NYSE Euronext Paris: ETL) and SpeedCast International Limited (ASX: SDA) have signed an agreement whereby SpeedCast will acquire Eutelsat’s 70% stake in WINS Limited for a consideration based on a total enterprise value of approximately €60 million.
Held through Skylogic, Eutelsat’s wholly-owned subsidiary, Wins is a provider of maritime connectivity services to passenger vessels in the Mediterranean region as well as, through its German subsidiary DH-Intercom, a provider of principally L-band connectivity and VSAT solutions to merchant vessels. In a consolidating market, the transaction will enable WINS to benefit from the scale of a leading global network and satellite communications service provider.
The sale of Eutelsat’s stake in Wins is consistent with its strategy of streamlining its asset portfolio in order to maximise free-cash-flow generation.
About Eutelsat Communications
Established in 1977, Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is one of the world's leading and most experienced operators of communications satellites. The company provides capacity on 39 satellites to clients that include broadcasters and broadcasting associations, pay-TV operators, video, data and Internet service providers, enterprises and government agencies.
Eutelsat’s satellites provide ubiquitous coverage of Europe, the Middle East, Africa, Asia-Pacific and the Americas, enabling video, data, broadband and government communications to be established irrespective of a user’s location.
Headquartered in Paris, with offices and teleports around the globe, Eutelsat represents a workforce of 1,000 men and women from 37 countries who are experts in their fields and work with clients to deliver the highest quality of service.
For more about Eutelsat please visit www.eutelsat.com