Indra acquires 89.68% of Hispasat to Redeia for 725 million euros

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By Jack Ferson

Indra has announced The acquisition of 89.68% of Hispasat, the telecommunications operator of Redeia (REE) for a total of 725 million euros. This information was communicated through a statement to the National Securities Market Commission (CNMV) on Friday night.

Acquisition details

According to the statement sent to the CNMV, Indra has reached an agreement with Redeia Corporation to acquire most of Hispasat’s share capital, a significant provider of satellite services. The total import of the operation amounts to 725 million euros.

To finance this acquisition, Indra has ensured a total of 700 million euros, while the rest of the import will be covered with own resources.

Operation conditions

The acquisition of Hispasat by Indra is subject to the fulfillment of certain suspensive conditions, mainly of a regulatory nature, both in Spain and in other jurisdictions. Besides, The operation must be approved by the General Board of Shareholders of Indra.

Likewise, the execution of specific agreements is required for Indra to consolidate accounting HISDESAT, the satellite governmental services operator in areas such as defense, security, intelligence and foreign affairs.

Remember that the price paid is lower than the one that in its day, six years ago, paid Redeia for taking that percentage of Hispasat to Abertis.

Specifically, The old Red Eléctrica, then Ree paid in February 2019 949 million euros for this acquisition, which financed with external debt, 224 million more.

Future perspectives

The acquisition of Hispasat by Indra represents A strategic step in the telecommunications and satellite services sector.

This operation will allow Indra to strengthen its market position and expand its service portfolio, offering innovative solutions to its customers.

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