EQT Enters Into Exclusive Negotiations With Eutelsat Group To Acquire A Majority Stake In Its Satellite Ground Station Infrastructure Business, Values New Entity At An Enterprise Value Of €790 Million

Author: Benzinga Newsdesk | August 09, 2024 12:56pm

• The Ground Station Business consists of approximately 1,400 antennas across more than 100 locations globally, enabling satellite communications for Eutelsat Group, OneWeb, and other third-party customers.
• The Ground Station Business operates within a predictable and stable part of the satellite value chain. It also benefits from serving both Geostationary Orbit and Low Earth Orbit satellites used for a diverse range of applications including connectivity and broadcasting.
• EQT would support the continued development of the Ground Station Business in its journey to becoming a premier independent ground station operator globally, through investments in new and existing antenna infrastructure and M&A-driven growth.

STOCKHOLM, Aug. 9, 2024 /PRNewswire/ -- EQT is pleased to announce that the EQT Infrastructure VI fund ("EQT") has entered into exclusive negotiations to acquire a majority stake in Eutelsat Group's Ground Station Infrastructure Business (or "the Ground Station Business"). EQT would own 80% of the capital, while Eutelsat Group would remain committed as long-term shareholder, anchor tenant and partner of the new company with a 20% holding. The contemplated transaction values the new entity at an enterprise value of EUR 790 million.

The Ground Station Business is a global infrastructure platform with a large, existing footprint of satellite ground stations and significant investment potential. Satellite ground stations enable the transmission of data between the Earth and orbiting satellites. They play an increasingly important role in global telecommunications, helping to enable reliable and low-cost connectivity to billions of people around the world that are outside of coverage for fixed and mobile connectivity solutions.

Posted In: EQT