Red Electrica : Acquisition in the satellite business to accelerate service differentiation strategy
>Strengthening its satellite footprint - Hispasat (the satellite business of REE) has reached an agreement to acquire 100% of Axess Networks Solutions Holdings, S.L., (Axess Networks) for $ 96m (€ 87m, 0.9% of REE’s market cap) and an EV of $ 124m (€ 112m), including $ 27.5m of debt. Hispasat will finance the acquisition through a combination of available cash and financing facilities without recourse to its shareholders (REE 89.68%). The transaction is subject to obt...Red Electrica is engaged in the transmission of electrical energy, the operation of the system and the management of the transmission network in the Spanish electricity system. In addition, through its subsidiaries, Co. is engaged in the acquisition, holding and management of foreign securities, co-ordination of international exchanges, provision of telecommunications services for third parties, provision of consultancy, engineering and construction services outside the Spanish electricity system, securing of funds, carrying out of financial transactions and provision of financial services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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