Coming in the wake of the growing collaboration between Eutelsat and OneWeb, which
began with Eutelsat's equity investment in OneWeb in April 2021, Eutelsat
Communications and key shareholders of OneWeb have signed an agreement, bringing
both companies with an exchange of shares allowing the shareholders of the two
companies to hold each 50% of the group's shares. This operation will create a key player
in connectivity from space.
The two major players in the sector will be able to seize the considerable growth
opportunities in the field of connectivity, driven by the growing needs of customers in
the B2B and B2C segments looking for permanent and reliable connectivity.
The transaction would be structured as an exchange (via a contribution) of OneWeb
shares for newly issued Eutelsat shares.
The transaction values OneWeb at $3.4bn implying a value of €12 per Eutelsat share
(including the dividend, before synergies).
The agreement has been unanimously approved by the boards of directors of Eutelsat
and OneWeb and is fully supported by the long-term investors of both companies, in
particular by SoftBank, advised on the French law aspects by a team led by Alexandre
Piette, partner of the DESFILIS firm, specialized in M&A operations.