Hispasat Shareholder Makes Play for Israeli Satellite Fleet Operator
PARIS — Satellite fleet operator Hispasat’s majority shareholder, the Spanish infrastructure builder Abertis, on April 24 said it has entered the competition to purchase Israeli satellite fleet operator Spacecom.
Spacecom’s major shareholder has made no secret of its desire to monetize its investment.
Barcelona-based Abertis, which owns 57 percent of Hispasat, was rebuffed its attempts in 2013 to purchase Satmex of Mexico when one of Hispasat’s other shareholders,of Paris, made a higher bid for the Mexican fleet operator.
After being blocked to the west, Abertis and Hispasat are now looking east.
In its statement, Abertis said a Spacecom acquisition would “be a strategic move to help Hispasat develop as a global operator, and also help development of the Spanish aerospace industry.”
Spacecom operates four satellites and has been expanding its reach into Asia. It reported $86 million in revenue in 2013.
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