Indra officially launches the decision-making process for the sale of Minsait Payments
This Monday, Indra announced the official launch of the decision process for the sale of Minsait Payment, its payment subsidiary. The firm’s board of directors gave the green light to “analyze the various options” on the table, according to a strategic plan announced in March.
In this strategic plan, Indra opened the door to the sale of Minsait, although it did not explain whether the sale would be partial (through the arrival of a new partner) or full, with the complete disposal of its subsidiary. Minsait is the engine of the group’s growth, annual growth of contracts in the portfolio by almost 20%in addition to double-digit increases in revenue and EBITDA (11.5% and 10%, respectively), as well as an increase in operating margin of almost 21%.
Thus, the company’s strategic plan outlines three main goals for the period from 2024 to 2026. new division focused on aerospace industryincrease number of partners in your technology business Minsait and generate revenue of 6,000 million euros, a volume that the firm expects to increase to 10,000 million in 2030. To achieve these goals, the company is committed to using three-quarters of its M&A budget for aerospace-related operations. and protection.
Last June, President Indra Jose Vicente de los Mosos, reaffirmed its commitment to the future of Minsait within the organization, but subject to the inclusion of new partners in the technology subsidiary as specified in the strategic plan. The question now is whether this position will eventually dominate the debate, or whether the possibility of selling 100% of the shares will gain traction.
Until May Indra had two proposals on his table.and directed Citi and AZ Capital to arrange for other possible interested parties in the business. This was a prelude to the sale of assets, although at the time the first option was to create a partner capable of providing the group with extraordinary income. This divided the council as some advocated making Indra one of Europe’s defense champions. Proponents of this strategy included the Amber Capital fund led by Joseph Ugurlian, Sepi and other important investors such as Escribano and Sapa. In this case, the goal was to free up spin-off businesses that could provide funds for growth in the military sector.
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