SEPI Sociedad Estatal de Participaciones Industriales

• SEPI reminds that the negotiations have been open for more than one year and that they depend of the agreements which are being worked out by the public and private partners
• The public sector regards as indispensable a growth plan and investment guarantees on the part of Abertis for consolidating Hispasat’s Spanish nature

The state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) has pointed out that the negotiations for Hispasat’s privatization among the different shareholders (Abertis, Eutelsat and the public sector - SEPI, INTA and CDTI -) having been open for more than a year, and that they have not yet concluded.

The deal for carrying out the shareholding reorganization is going on, and it depends on the conversations, negotiations and agreements on which are working the public and private partners.

In this sense, the financial parameters which the deal must respect are being negotiated, since the public sector seeks to optimize the company’s value in accordance with the external reports submitted.

Besides this financial assessment of the company, the public sector tries to agree as an indispensable issue for reaching an agreement a growth plan and investment commitments on the part of Abertis. Thus, and as part of the actions, the size and Spanish nature of Hispasat must be consolidated, guaranteeing the business growth, as a result of the vocation for stability and continuance in time which this deal seeks to achieve.

Not in vain, one of the great goals sought by the eventual shareholding reorganization is to consolidate Hispasat as one of the largest satellite operators in the world, as part of a corporate strategy without any political dimension, beyond that of safeguarding the Spanish position into this company.

Finally, it is worthwhile mentioning that, in the case that the negotiations bore fruit, and as a result, the deal, the State would reserve for itself the management of Hisdaset, taking into account its strategic and military nature.