Eutelsat will sell its ground infrastructure, particularly the giant dishes and transmission equipment that make up its teleports. The buyer – with whom the company is currently in exclusive talks – is Sweden-based private equity firm EQT Group. Eutelsat will retain a 20 percent stake in the future company.
Eutelsat’s ground station business consists of around 1,400 antennas in more than 100 locations worldwide and enables satellite communications for Eutelsat itself, OneWeb and other third-party customers. The transaction value is €790 million (US$863 million) and the deal is expected to close in the first quarter of 2026.
“The proposed transaction would consist of the spin-off of the passive assets (land, buildings, supporting infrastructure, antennas and interconnectors for the combined portfolio of Teleports and SNPs) to create a new company that would be incorporated as a separate legal entity. EQT will own 80 percent of the capital, while Eutelsat will remain involved as a long-term shareholder, anchor tenant and partner of the new company with a 20 percent stake alongside EQT,” they said in a joint statement.
The new company would be the world’s largest pure-play, operator-neutral ground station as a service company. It would bring together world-class teams combining satellite-specific knowledge with infrastructure service provider experience to ensure optimal customer service.
Upon completion of the transaction, Eutelsat would enter into a long-term framework services agreement covering the services to be provided by the new company to the Eutelsat Group. The MSA would ensure the seamless continuity of Eutelsat’s activities with the same high levels of efficiency, reliability and security.
The money will be very useful for Eutelsat, which needs several billion euros to finance OneWeb’s second generation of satellites.
Eva Berneke, CEO of Eutelsat Group, said: “We are proud to be the first satellite operator to enter into this innovative transaction, which will enable us to build on the model established in other industries and optimise the value of our extensive ground network. In EQT, we have found a partner of the highest quality who shares our vision. This transaction would be a win-win for all parties and would enable Eutelsat to strengthen its financial profile while continuing to rely on the unparalleled quality and reliability of its ground infrastructure. Furthermore, we are confident that with EQT’s support, the company will be able to fully exploit the opportunities it faces as the new global leader in this dynamic sector.”
Carl Sjölund, Partner in the EQT Value-Add Infrastructure advisory team, added: “At EQT, we identified satellite ground stations as an attractive digital infrastructure several years ago. They play an important role in ensuring global connectivity, especially for those not covered by fixed and mobile connectivity solutions, and require extensive global expertise in the development and operation of telecommunications infrastructure companies. We are excited to work with Eutelsat Group to build a leading ground station provider and capitalize on the growth opportunities created by technological innovations.”
EQT is a purpose-driven global investment organisation with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets) across two business lines – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
