Indra Acquires Majority Stake in Hispasat for €725 Million
Indra has announced its acquisition of 89.68% of Hispasat, the telecommunications operator owned by Redeia, for a total investment of €725 million. This significant move was disclosed in a statement submitted to the National Securities Market Commission (CNMV) on Friday night. As part of the deal, Indra has secured financing amounting to €700 million, with the remaining balance to be covered by its existing cash reserves.
The acquisition involves several key regulatory approvals in Spain and other jurisdictions, and it is contingent upon the approval of Indra's general meeting of shareholders. Additionally, the successful consolidation of Hisdesat, which operates government satellite services pertaining to defense, security, intelligence, and foreign affairs, is also a prerequisite.
This acquisition marks a pivotal point for Indra, expanding its portfolio in the satellite services sector and enhancing its capabilities in communications and defense technologies. Hispasat operates as a provider of satellite services and its incorporation into Indra's operations is expected to strengthen the company's market position in both commercial and governmental satellite communications.
As the transaction progresses, focus will remain on meeting the necessary regulatory conditions and gaining shareholder approval to finalize this strategic investment.
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