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SATELLITE TODAY :: DAILY NEWS FEED
December 8, 2006
France's Caisse des D�pots et Consignations will acquire a 25.5 percent stake in Eutelsat from French investment firm Eurazeo, the companies announced Dec. 7. This is the second major transfer of Eutelsat stock announced this week.
Caisse des D�pots, a state-owned financial institution that performs public interest missions on behalf of France's central, regional and local governments, will pay more than 860 million euros ($1.1 billion) for the Eutelsat shares, which are held by Bluebirds II Participations and RedBirds Participations, two entities controlled by Eurazeo. The deal values the Eutelsat shares at 15.70 euros ($20.89) apiece, and Eurazeo expects to realize proceeds of 614 million euros ($817 million).
The latest deal comes two days after Spanish industrial group Abertis announced it will acquire a 32 percent stake in Eutelsat for more than 1 billion euros ($1.3 billion).
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