Eutelsat Group has announced plans to carve out its passive ground infrastructure assets into a new standalone company in partnership with the EQT Infrastructure VI fund. The deal, which involves signing a put option agreement with EQT, will see Eutelsat retain a 20% stake in the newly formed entity, while EQT will hold 80% of the capital. This strategic move will create the world's largest pure-play, operator-neutral, ground station-as-a-service company, combining satellite expertise with infrastructure service excellence.
The new entity, valued at €790 million, will take over Eutelsat's passive assets, including land, buildings, antennas, and connectivity circuits. Eutelsat will maintain its role as a long-term shareholder, anchor tenant, and partner, ensuring seamless continuity of services through a master service agreement (MSA) with the new company. This transaction is expected to enhance Eutelsat's financial profile by shifting future maintenance capital expenditures to the new entity, allowing the company to focus on advancing its multi-orbit fleet.
Key Points:
- Eutelsat to carve out passive ground infrastructure assets into a new standalone company with EQT owning 80%.
- The new entity will be the world's largest operator-neutral, ground station-as-a-service company.
- Eutelsat to enter a long-term master service agreement with the new company to ensure service continuity.
"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 optimize the value of our extensive ground network," said Eva Berneke, CEO of Eutelsat Group. "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."
