Sony Pixel Power calrec Sony

Eutelsat Group enters into exclusive negotiations for the carve-out and partial sale of its passive ground segment infrastructure assets

09/08/2024

Turin, Italy

Press release - 9 August 2024 17:47

Eutelsat Group enters into exclusive negotiations for the carve-out and partial sale of its passive ground segment infrastructure assets Share on Facebook Share on Linkedin Share on Twitter Download as PDF

Paris, 9 August 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) has entered into exclusivity and signed a put option agreement with the EQT Infrastructure VI fund ( EQT ) with respect to its passive ground infrastructure assets.

The contemplated transaction would consist in the carve-out of the passive assets (land, buildings, support infrastructure, antennas and connectivity circuits for the combined portfolio of teleports and SNPs) to form a new company which would be incorporated as a standalone legal entity. EQT will own 80% of the capital, while Eutelsat Group will remain committed as long-term shareholder, anchor tenant and partner of the new company with a 20% holding alongside EQT.

The new entity would be the world's largest pure-play, operator-neutral, ground station- as-a-service company, bringing together top-level teams combining satellite-specific knowledge with highly experienced infrastructure service operators for optimum customer service.

On completion of the transaction, Eutelsat would enter into a long-term framework master service agreement (MSA) covering services to be rendered by the new company to Eutelsat Group. The MSA would assure the seamless continuity of Eutelsat's activities at the same high level of efficiency, reliability and security.

The contemplated transaction values the new entity at an enterprise value of 790m, representing attractive EBITDA-Capex and EV/EBITDA multiples. It would shift future maintenance capex to the new entity, while the proceeds would enable Eutelsat to strengthen its financial profile and focus on the next generation of its multi orbit -fleet.

Eva Berneke, Chief Executive Officer of Eutelsat Group, said, We are proud to become the first satellite operator to embark on this innovative transaction which would allow us to build on the model adopted in other industries, and to optimise the value of our extensive ground network. In EQT we have found a partner of the highest quality, who shares our vision. This transaction would represent a win-win situation for all parties, and would enable Eutelsat to strengthen its financial profile, whilst continuing to rely on the unparalleled quality and reliability of its ground infrastructure. Moreover, we are confident that with the backing of EQT, the business would be in a position to fully embrace the opportunities opening up to it as the new Global leader in this dynamic sector.

Carl Sj lund, Partner within the EQT Value-Add Infrastructure advisory team, added: At EQT, we identified satellite ground stations as an attractive digital infrastructure vertical several years ago. They play an important role in ensuring global connectivity, especially for those not covered by fixed and mobile connectivity solutions and require deep global expertise in developing and operating telecommunications infrastructure businesses. We are delighted to partner with Eutelsat Group to create a ground station leader and capture the growth opportunity fuelled by technological innovation.

The transaction remains subject to customary conditions precedent, in particular the approval by the relevant regulatory authorities as well as consultation with French security authorities and the appropriate employee representative bodies. Closing of the deal is expected in the first quarter of calendar year 2026.

Topics

Telecom

Radio, TV

Electronic business, communication

Innovations, inventions

Network products

Telecommunication, mobile telephony

Categories

connectivity

investors

About Eutelsat Group

Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 35 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL)

Find out more at www.eutelsat.com

Media enquiries

Joanna Darlington

Tel. 33 674 521 531

jdarlington@eutelsat.com

Katie Dowd

Tel. 1 202 271 2209

kdowd@oneweb.net

Investors

Joanna Darlington

Tel. 33 674 521 531

jdarlington@eutelsat.com

Hugo Laurens Berge

Tel. 33 670 80 95 58

hlaurensberge@eutelsat.com

DISCLAIMER

The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks
LINK: https://eutelsat-com.mynewsdesk.com/pressreleases/eutelsat-group-enter...
See more stories from eutelsat

Most recent headlines

13/03/2025

You Will Leave Opus Singing the Original Bops Performed by John Malkovich

(L-R) Stephanie Suganami, Tatanka Means, John Malkovich, Ayo Edebiri, and Juliette Lewis attend the premiere of Opus at Eccles Theatre in Park City. (Photo by...

13/03/2025

How Spotify Is Driving Growth, Discovery, and Innovation in the Audiobook Market

Spotify took center stage at the London Book Fair this week, reaffirming our commitment to the audiobook market and showcasing our impact on the publishing indu...

13/03/2025

Spotify Audiobooks Launches a New Publishing Program for Independent Authors

At Spotify, we work every day to lift up new voices, giving creators the opportunity to live off their art. Through Spotify Audiobooks, our in-house publishing ...

13/03/2025

Evolving EO/IR Technology For All-Domain Airborne Law Enforcement

Every time airborne law enforcement (ALE) teams fly, they expect their equipment to perform. Whether airborne units are conducting support for ground teams, bor...

13/03/2025

Craft Interview: Jamie McCombs, Audio Consultant / Sr. Audio

Sunday February 9 saw the annual return of the US' biggest television event, the Super Bowl LIX. Jamie McCombs, Fox Sports Audio Consultant / Sr. Audio capt...

13/03/2025

Craft Interview: Paul Sandweiss, Production Sound Mixer/Audio Director

On Sunday March 2, stars across the film industry gathered at the Dolby Theatre in Los Angeles for the 97th Academy Awards. Production Sound Mixer Paul Sandweis...

13/03/2025

Riedel To Showcase New StageLink Smart Edge Devices At 2025 NAB Show

WUPPERTAL, Germany Riedel Communications will feature its new StageLink family of smart edge devices, Smart Audio and Mixing Engine (SAME) and Virtual Smart Pan...

13/03/2025

TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring for VOS360 Streaming Workflows at the 2025 NAB Show

TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring ...

13/03/2025

DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage Platform that Empowers Video Teams to Scale Effortlessly

DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage P...

13/03/2025

FOR-A America Theme - Connecting the Present, Building the Future - Comes to Life at NAB 2025 Exhibition

FOR-A America Theme - Connecting the Present, Building the Future - Comes to Lif...

13/03/2025

Ajit Pai Appointed President of CTIA

CTIA, the wireless industry association, has named former FCC Chairman Aji Pai as its President and Chief Executive Officer, effective April 1. He replaces Mere...

13/03/2025

NAB: FCC's 60 Minutes Investigation Is Unconstitutional, Invalid

he National Association of Broadcasters is urging the FCC to end its investigation of that controversial CBS interview with Kamala Harris stating there is no ...

13/03/2025

CBS Miami to Launch AR Coverage of Weather and Sports for March Madness

MIAMI CBS News & Stations continues to expand its use of augmented and virtual reality technologies with the planned launch of an augmented reality/virtual real...

13/03/2025

Meet the co-founder and chief customer success & innovation officer

Srividhya Srinivasan, co-founder and chief customer success & innovation Officer at Amagi, tells TVBEurope how staying ahead of the latest trends is essential f...

13/03/2025

FCC Chairman Carr Launches Massive Deregulation Initiative

WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...

13/03/2025

SDVI Integrates Rally With Spectra Vail

SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...

13/03/2025

FCC Approves Gray's Acquisition of KXLT

ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...

13/03/2025

NAB Show 2025 Exhibitor Insight: Blackmagic Design

TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...

13/03/2025

Watch Student Naomi Soleils Folk Pop Performance on The Voice

Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions. ...

13/03/2025

Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content

Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content Feature marks Rokus first women's league-branded zone within service By Bra...

13/03/2025

Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew Cross

Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew...

13/03/2025

SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size on Completing Customizable Studios for All Clients

SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size ...

13/03/2025

IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036; Add Digital Projects, Initiatives

IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036;...

13/03/2025

NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical Video Feed, Mascot Mode, and Popular Boss Button

NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical...

13/03/2025

SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive Experience for Daytona, The PLAYERS, and March Madness

SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive...

13/03/2025

Sky Business Launches Cloud Voice A New Cloud Communication Solution for UK Businesses

Sky Business, Sky's B2B division, providing connectivity and content to busi...

13/03/2025

Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark for F band applications

Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark ...

13/03/2025

The ICG Marketing Survey 2025

We asked the questions, analysed the answers and now we're excited to share the results of the fifth edition of the ICG Marketing Survey. Our 2025 survey p...

13/03/2025

Harmonic Amps Up Video Streaming Efficiency with New Origin Capabilities

SAN JOSE, Calif. - March 13, 2025 Harmonic (NASDAQ: HLIT) today announced a breakthrough in video streaming innovation with the launch of new origin capabilitie...

13/03/2025

Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025

Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025 Haivision's video wall systems, ISR technology, and DoDIN APL-certified video distri...

13/03/2025

FOR-A America Theme Connecting the Present, Building the Future Comes to Life at NAB 2025 Exhibition

Company Leads the Way with New Software-Based Production Platform, 12G Switcher,...

13/03/2025

2025-03-13

A new Apple Immersive concert experience, Metallica, is coming to Apple Vision Pro this Friday, March 14. Filmed in Mexico City during the sold-out second-year ...

13/03/2025

Italia 90 Republic of Ireland Squad, Riverdance, Cian Ducrot & B*Witched on Friday's Late Late Show

Here is your host, Patrick Kielty! Shake your Shamrocks, Patrick Kielty will be...

13/03/2025

RT Celebrating all things Irish this St. Patrick's Weekend

This St. Patrick's weekend, RT invites you to celebrate all things Irish, showcasing the very best of Irish sport, entertainment and live coverage from the...

13/03/2025

GTC 2025 - Announcements and Live Updates

What's next in AI is at GTC 2025. Not only the technology, but the people and ideas that are pushing AI forward - creating new opportunities, novel solution...

13/03/2025

T-Mobile, Thales and SIMPL ease IoT deployments with a flexible and secure connectivity solution

Facebook Twitter LinkedIn By combining T-Mobile's robust network, Thal...

13/03/2025

Relive the Magic as GeForce NOW Brings More Blizzard Gaming to the Cloud

Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library. Prepare to weather epic gameplay in the cloud, tackling the genr...

13/03/2025

Gaming Goodness: NVIDIA Reveals Latest Neural Rendering and AI Advancements Supercharging Game Development at GDC 2025

AI is leveling up the world's most beloved games, as the latest advancements...

13/03/2025

Drop It Like It's Mod: Breathing New Life Into Classic Games With AI in NVIDIA RTX Remix

PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...

12/03/2025

Como o Impacto Cultural e Financeiro da Indstria Musical Define Seu Sucesso em 2025

O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...

12/03/2025

Cmo el impacto cultural y financiero de la industria musical define su xito en 2025

Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...

12/03/2025

Nourish Mind, Body, and Soul This Ramadan With Spotify

Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...

12/03/2025

How the Music Industry's Cultural and Financial Impact Define Its Success in 2025

Spotify has just unveiled this year's Loud & Clear report, a transparent loo...

12/03/2025

FAST now transcends back catalog content

More than 70% of FAST programming has been produced since 2010, according to new Gracenote report NEW YORK March 12, 2025 Gracenote, the content data busin...

12/03/2025

Viamedia Adopts ShowSeeker Pilot To Streamline Ad Workflows

GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...

12/03/2025

Mediagenix Appoints Wael Yasin as Sales Director Central Europe

BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....

12/03/2025

Omdia: Global Online Consumer Expenditure to Hit $6.6 Trillion by 2029

LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...

12/03/2025

Comcast Technology Solutions Upgrades to Interra Systems BATON Version 9

CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....

12/03/2025

Nevion announces new 400G addition to its eMerge SDN media fabric offering

Nevion announces new 400G addition to its eMerge SDN media fabric offering Brie Clayton March 12, 2025 0 Comments High-capacity switch enhances existi...

12/03/2025

DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol

DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol Brie Clayton March 12, 2025 0 Comments Feature film relies on DaVinci Resolve Studio for ...