Indra acquires 89.68% of the share capital of Hispasat from Redeia

Indra Group has signed an agreement with Redeia Corporation for the acquisition of 89.68% of the share capital of the Spanish satellite operator Hispasat for an amount of 725 million euros.

For these purposes, Indra Group has signed an insurance contract for a total of 700 million euros, with the rest of the amount expected to be covered from the existing cash flow.

Upon learning of the operation, Redeia has reported that "it invested 933 million euros in the purchase of Hispasat in 2019 and with the closing of the sale of its participation it will have received a total of 821 million euros, which includes the price agreed with Indra plus the 96 million euros of dividends collected from Hispasat between 2019 and 2025, which represents a total cash loss of 112 million euros."

The operation is subject to compliance with certain suspensive conditions, of an essentially regulatory nature, both in Spain and in other jurisdictions; to approval by the General Meeting of Shareholders of Indra; as well as the execution of the necessary agreements for Indra to consolidate Hisdesat, operator of government satellite services in the areas of defense, security, intelligence and foreign affairs, on an accounting basis.