Abertis passes control of Overon to Grupo Imagina
Juan Fernandez Gonzalez | 19-12-2013
Abertis has finally sold 26% of Overon to Mediapro's Grupo Imagina, which now has control over the audiovisual transportation company. The deal has been authorised by the CNMC and is worth €24 million to Abertis.
In 2006, Overon was created by Mediapro and Abertis, with Abertis keeping the controlling 51% of the group until now. The deal between the two companies also includes the option for Abertis to sell the last 25%, as it looks to focus on its main business of telecoms infrastructure.
Overon offers video and data transmission in nearly every part of the world, via terrestrial and satellite technology. The company has two telecom centres, in Madrid and Miami, and a large float of DSNGs which bring wide coverage of news events around the globe.
According to Mediapro, the company invoiced €66 million in 2012 – 41% of the content sold was produced in Spain – mostly from the US, Belgium and Bulgaria.
Abertis started the sale of the shares in the summer during which time it completed the purchase of the majority of Hispasat, in which it is planning a major investment.