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MADRID, June 3 Spanish infrastructure company
Abertis completed its exit from French satellite
operator Eutelsat on Tuesday by selling its remaining
5.01 percent stake in the company for 275 million euros ($374.2
Abertis, the world's largest toll road operator, bought a 31
percent stake in Eutelsat in 2006 for 1.07 billion euros but
started to sell it down in early 2012 as it embarked on a new
strategy and restructured its business.
The company has reduced its exposure to its home market of
Spain, which has been suffering from a five-year economic slump,
sold off stakes in several international airports and acquired
businesses in South America, where it operates toll roads in
Chile and Brazil.
Abertis is looking at investment opportunities in Britain,
the United States and Australia to balance its exposure to Latin
America, Chief Executive Francisco Reynes said on Feb. 28.
The shares, which were placed through an accelerated
bookbuilding process, were sold at a price of 24.94 euros each,
according to Reuters calculations. It was a 3 percent discount
from their closing price of 25.725 euros on Monday.
Shares in Eutelsat fell 2.90 percent to 24.98 euros.
The sale did not generate any "substantial" profit, Abertis
said in a statement to Spain's stock market regulator.
($1 = 0.7349 Euros)
(Reporting by Julien Toyer, editing by Louise Heavens)