The transaction consists in the carve-out of the Eutelsats passive ground infrastructure assets to form a new company.
Eutelsat Group has exercised the put option signed with EQT Infrastructure VI fund on August 9, 2024 regarding a majority stake in a newly created entity that will hold Eutelsats passive ground infrastructure assets. This decision follows the completion of the consultation processes with relevant employee representative bodies of Eutelsat.
The exercise of the put option led to the signing of a binding Share Purchase Agreement (SPA) between Eutelsat and EQT. The transaction consists in the carve-out of the Eutelsats passive ground infrastructure assets (land, buildings, support infrastructure, antennas and connectivity circuits for the combined portfolio of teleports and SNPs) to form a new company to be incorporated as a standalone legal entity. Under the terms of the agreement, EQT will acquire an 80% stake in this new entity, 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 transaction values the new entity at an enterprise value of 790m. It remains subject to customary conditions precedent, and closing of the deal is expected in the first quarter of calendar year 2026.
