Page 44 - SAMENA Trends - October-December 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Eutelsat Group Exercises Its Put Option and Signs Share Purchase

Agreement with EQT Infrastructure

Eutelsat Group has exercised the put Agreement (SPA) between Eutelsat and of the agreement, EQT will acquire an 80%
option signed with EQT Infrastructure EQT. As announced on 9 August 2024 stake in this new entity, while Eutelsat
VI fund (“EQT”) on 9th August 2024 upon signing of the Put Option Agreement, Group will remain committed as long-term
regarding a majority stake in a newly the transaction consists in the carve- shareholder, anchor tenant and partner
created entity that will hold Eutelsat’s out of the Eutelsat’s passive ground of the new company with a 20% holding
passive ground infrastructure assets. infrastructure assets (land, buildings, alongside EQT. The transaction values the
This decision follows the completion of support infrastructure, antennas and new entity at an enterprise value of €790m.
the consultation processes with relevant connectivity circuits for the combined It remains subject to customary conditions
employee representative bodies of portfolio of teleports and SNPs) to form precedent, and closing of the deal is
Eutelsat. The exercise of the put option led a new company to be incorporated as a expected in the first quarter of calendar
to the signing of a binding Share Purchase standalone legal entity. Under the terms year 2026.

Eutelsat and Q-KON Strengthen Partnership to Expand LEO Services

Across Sub-Saharan Africa

Eutelsat Group has signed a new availability, the LEO-based connectivity sentiment, highlighting LEO services”
multi-year agreement with Q-KON, a service is poised to support growing digital increased flexibility and scalability, stating,
prominent satellite solutions provider, to demands across business and community “This agreement brings us the flexibility
expand Low-Earth Orbit (LEO) satellite needs. Cyril Dujardin, President of the to enhance and differentiate our service
connectivity across Sub-Saharan Africa. Connectivity Business Unit at Eutelsat offerings. We are excited to expand
This agreement builds upon successful Group, expressed enthusiasm for the our reach in Southern Africa, enabling
collaborations and targets accelerating strengthened collaboration, stating, “We more reliable and faster connectivity to
high-speed, low-latency internet services are delighted to step up our relationship empower businesses and support digital
for underserved regions and specialized with Q-KON and honored by the trust transformation across the region.” Through
businesses, particularly in Southern Q-KON has placed in us. Together, we are this expanded partnership, Eutelsat and
Africa. The new agreement reinforces committed to delivering high-availability, Q-KON are well-positioned to address the
the integration of Eutelsat’s OneWeb LEO low-cost connectivity solutions that connectivity gap in Sub-Saharan Africa,
network with Q-KON’s Twoobii Smart meet Africa’s unique needs.” Dr Dawie de enhancing digital access to contribute to
Satellite Services. This collaboration began Wet, Group CEO of Q-KON, echoed this economic and social development.
in 2023 when Eutelsat’s OneWeb LEO
services were incorporated into Q-KON’s
Twoobii platform. It has since enabled
projects such as digital banking services
launched in early 2024. The new terms
will further increase the OneWeb network
capacity available to Q-KON, enabling
the company to scale its Twoobii-LEO
broadband offerings and meet the region’s
rising demand for dependable, high-speed
internet. This partnership has a broad
impact on sectors in Sub-Saharan Africa,
spanning urban to remote regions where
terrestrial internet access is still limited or
absent. By merging Eutelsat’s advanced
satellite infrastructure with Q-KON’s
local technical expertise, the partnership
aims to make quality connectivity
accessible to a broader audience,
supporting applications in e-learning,
remote healthcare, fintech, and enterprise
solutions. With its low latency and high

44 OCT-DEC 2024