Spanish industrial group Abertis will pay more than 1 billion euros ($1.4 billion) to become the single largest shareholder in European satellite operator Eutelsat, Abertis announced Dec. 5.

Abertis, through its telecom subsidiary Abertis Telecom, reached an agreement with investment funds Texas Pacific Group, Spectrum, Cinven and Goldman Sachs — all of which are minority shareholders in Eutelsat — to acquire a 32 percent stake in the operator.