EQT Infrastructure VI and EQT AB (OM:EQT) entered into exclusive negotiation agreement to acquire an unknown majority stake in Ground Station Infrastructure Business of Eutelsat from Eutelsat Group.

EQT Infrastructure VI and EQT AB (publ) (OM:EQT) entered into exclusive negotiation agreement to acquire an unknown majority stake in Ground Station Infrastructure Business of Eutelsat from Eutelsat Group (ENXTPA:ETL) on August 9, 2024. Transaction valued at enterprise value of approximately ?790 million. The transaction is subject to customary regulatory conditions and approvals, as well as consultation with French security authorities and the appropriate employee representative bodies.

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 transaction would carve out passive assets, including land, buildings, support infrastructure, antennas and connectivity circuits, to form a new company which would become a standalone legal entity and will be rebranded after closing of the transaction, with the headquarters to remain in France. The Ground Station Business benefits from a resilient financial profile and a robust position in the satellite value chain due to its high-quality global asset base.

On completion of the transaction, Eutelsat would enter into a long-term framework master service agreement (MSA) with the Ground Station Business and become the anchor tenant. The transaction would carve out passive assets, including land, buildings, support infrastructure, antennas and connectivity circuits, to form a new company which would become a standalone legal entity and will be rebranded after closing of the transaction, with the headquarters to remain in France. The Ground Station Business benefits from a resilient financial profile and a robust position in the satellite value chain due to its high-quality global asset base.

Transaction is expected to close in first quarter of 2026. With this transaction, EQT Infrastructure VI is expected to be 45-50 percent invested based on target fund size. Rothschild & Co SCA acted as financial advisor for EQT AB.

Allen Overy Shearman Sterling LLP acted as legal advisor for EQT AB. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for EQT AB. KPMG AB acted as accountant for EQT AB.

BCG acted as Commercial advisor and NovaSpace acted as Technical advisor to EQT AB. Lazard & Co. GmbH acted as financial advisor to Eutelsat Group (ENXTPA:ETL).