Paris, 13 July 2016 - Following the statement by Abertis on Eutelsat's intention to initiate the process of divesting its stake in Hispasat through the exercise of a put option granted by Abertis in 2008, Eutelsat Communications (NYSE Euronext Paris: ETL) states that the exercise of the put represents a pre-agreed exception to a lock-up period extending to the end of July 2017.
As such, Eutelsat is within its rights to exercise the put prior to July 2017.
Eutelsat holds a 33.69% stake in Hispasat through its subsidiary, Eutelsat Services und Beteiligungen GmbH. Under the terms of the put option agreement, the value of the Hispasat stake will be determined by an independent expert.
The transaction will proceed subject to Spanish government consent.
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