SEPI will not exercise its right of first refusal on the Hispasat shares which Eutelsat envisages to sell to Abertis
09 June 2017 | Madrid
In the meeting held this Friday, the Board of Directors of the Spanish state-owned industrial holding company SEPI has resolved not to exercise its right of first refusal on the HISPASAT shares which Eutelsat envisages to sell to Abertis, a transaction whose authorization by Spain’s Council of Ministers is pending, and about which the satellite communications operating company informed the company’s shareholders in May, according to the requirements set by section no. 8 of its By-laws.
The resolution, which was taken unanimously by SEPI’s Board of Directors, is due to the realization that the exercise of the right of first refusal for these shares would not result in a significant increase of the Group’s position within HISPASAT’s shareholding structure, a company in which the Spanish state-owned partners hold 9.26% of the social capital.