HISPASAT Raises its Stake in HISPAMAR to 100%
Rio de Janeiro, Brazil, January 13, 2022. On December 28, HISPASAT agreed to acquire from Telemar 19.04% of the shareholding of its Brazilian subsidiary HISPAMAR Satélites, after obtaining the necessary permits and authorizations from the Brazilian government. Consequently, HISPASAT will hold 100% of its subsidiary's share capital.
The conclusion of this transaction, which is the most important at a strategic level since HISPAMAR was established 20 years ago, strengthens the commitment that HISPASAT made to the Brazilian telecommunications market when in 2001 it acquired the orbital rights at 61º West, of Brazilian sovereignty, and established this subsidiary, with which it operates and markets the Amazonas fleet. Since then, HISPAMAR has become a cornerstone of its activity on the American continent, which is already responsible for 60% of its income.
At present the HISPAMAR fleet is made up of the Amazonas 2, 3 and 5 satellites, which provide capacity across the whole of Brazil and the rest of the continent. High performance, cost efficient services are operated on this satellite fleet to distribute C-band audiovisual content and for direct to home (DTH) Ku-band television solutions. In addition, it has Ka-band capacity to provide satellite connectivity solutions and bridge the digital divide in rural settings. The fleet will be joined in late 2022 by the Amazonas Nexus, an innovative satellite that will provide great flexibility to offer rural broadband connectivity services and across land, air and maritime mobility environments throughout the Americas, the North and South Atlantic corridors and Greenland.
Clovis José Baptista Neto, President of HISPAMAR, said that “this operation is of great importance to strengthen HISPASAT's role in Brazil. This country has huge potential for developing satellite communications solutions, and we are ready to work with its public and private sectors on projects that bring the greatest value to their society.”
Rodrigo Abreu, President of Oi, said that the agreement represents another step in the company's strategic plan. "It is an asset that was expected to be sold in the modification of the Judicial Reorganization Plan approved in 2020. It is another step that we take in the process of improvement and transformation of the company."
HISPASAT is the leading satellite operator in Spain and a driver for innovation in the aerospace sector. The company is the main communication link between Europe and America as a broadband and connectivity service provider in America, Europe and North Africa through its companies in Spain and Latin America, where its Brazilian subsidiary, HISPAMAR, is located. HISPASAT is the leader in broadcasting and distributing multimedia content in Spanish and Portuguese, including broadcasts from major digital Direct to Home (DTH) and High Definition Television (HDTV) platforms. These activities make it one of the top companies in the world by revenue in its sector and it forms part of the Red Eléctrica Group.
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