Eutelsat, as expected, is raising €1.35 billion in fresh capital. The French state is “anchoring” the increase, which will be in place by the end of this year.
The extra cash comes by way of a €716 million capital increase which would be subscribed by the French State via the Agence des Participations de l’Etat (APE), Bharti Space Limited, CMA CGM, and Le Fonds Stratégique de Participations (FSP), and additionally a rights issue of €634 million, which would be subscribed for their rights by the above investors.
The French States, Bharti, CMA CGM and FSP have all entered into commitments to take up their portions of the Capital Increase and the associated Rights Issue. The induvial amounts for Reserved Capital Increase would be subscribed by the French State for €526.4 million, Bharti Space for €31.4 million, CMA CGM for €100.4 million, and FSP for €57.8 million.
“Discussions are ongoing with other interested investors, including His Majesty’s Government, which could join the capital raise in due course,” said Eutelsat.
The French State would end up holding 29.99 per cent of the capital and voting rights.
The move followed news that the French military had agreed a 10-year OneWeb capacity contract valued at up to €1 billion.
