Abertis buys into Spacecom
April 24, 2014 10.55 Europe/London By Julian Clover
Amos MCRSpanish infrastructure group Abertis is seeking to take control of the Israeli satellite operator Spacecom through a deal with 64.5% owner Eurocom.
The transaction, which values the company at €350 million, will be made through the Spanish operator Hispasat, in which Abertis owns a 57% stake It is expected to lead to a full scale takeover bid for the company that offers a footprint over the Middle East and Central & East Europe.
The Amos fleet currently consists of four satellites.
Its primary customers include the Israeli DTH operator YES and also has customers in Central & Eastern Europe and Africa.
The company was put up for sale last December with media controlling shareholder Shaul Elovitch reportedly seeking ILS2 billion (€413.5 million) for the company
Hispasat ended 2013 with profits of €54.3 million.