Albertis sellshalfEutelsat stake
10.35 Europe/London, January 13, 2012 By Julian Clover
Spanish infrastructure company Albertis has sold half of its stake in satellite operator Eutelsat for €396 million.
Plans to dispose of 16% of the holding were made public in a filing with the Spanish stock market regulator, which said Credit Suisse Securities, Morgan Stanley and Societe Generale Corporate & Investment Banking would handle the transaction.
Albertis plans to use the funds for further investment and to pay off debts.
The company is retaining a 15.35 per cent share in Eutelsat, on which a six-month lock-up period applies.
In mid-morning trading on the Paris Stock Exchange, Eutelsat had lost -2.55% of its value.
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