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Indra takes 89% of Hispasat

February 4, 2025

By Chris Forrester

The purchase by global defence specialist Indra Group of Madrid-based satellite operator Hispasat, first announced in January, has been formalised. Indra will take a 89.68 per cent stake from infrastructure company Redeia. The cost is to be €725 million. This means that Redeia has lost some €225 million since it acquired Hispasat in 2019 when it paid €949 million for the operator.

Indra Group has secured financing for a total of €700 million, with the remaining amount to be covered with existing cash on balance.

The transaction is subject to the fulfillment of several conditions precedent which are essentially regulatory in nature, both in Spain and in other jurisdictions, as well as to the approval by Indra’s General Shareholders’ Meeting, and to the execution of those agreements necessary for the accounting consolidation of Hisdesat Servicios Estratégicos by Indra, an operator of government satellite services in the fields of defence, security, intelligence and foreign affairs.

Spanish state-owned elements will hold 7.41 per cent (SEP) and technology institute CDTI 2.91 per cent.

Hispasat is committed to invest about €600 million in the SpaceRISE consortium building the IRIS2 satellite project.

Indra Group is a holding company that promotes technological progress. It includes Indra, one of the main global defense, air traffic and space companies; and Minsait, leading digital transformation and information technologies in Spain and Latin America. Indra Group promotes a safer and more connected future through innovative solutions, trusted relationships, and the best talent. Sustainability is part of its strategy and culture, to respond to present and future social and environmental challenges. At the end of the financial year 2023, Indra Group had revenues of €4,343 million, and more than 57,000 employees, local presence in 46 countries and commercial operations in more than 140 countries.

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