Indra launches its new space subsidiary with focus on acquiring Hispasat and other competitors

Indra progresses with his new plan for the future. The group launched its new strategic plan several months ago with the intention to become a major Spanish multinational in the field of defense and advanced technology. and make it through purchases from other companies. And the meeting of the group’s shareholders supported all the top management’s proposals to achieve these goals. reorganization of the company’s structure, as well as its corporate governance.

The shareholders meeting this Thursday approved the granting of executive functions to Indra President Mark Murtra to share powers with CEO Jesús Vicente de los Mozos; the entry of the defense group Escribano on the board of directors with one seat, corresponding to its 8% share in the company’s capital; and also gave the green light to the creation of a new subsidiary, Indra Espacio, to spin off the entire space business and combine its growth with acquisitions of companies in this area.

The new Indra Espacio will be the instrument through which to formulate one of the major corporate operations of the national space industry, which in this sector is taken for granted and in its infancy, but for which Indra is trying to cool expectations in an assertive manner. . Indra admits that one of the options he uses involves enter as a shareholder of the Spanish satellite group Hispasat (and probably also in Hisdesat, a subsidiary of defense satellites Hispasat itself participated)But its top executives insisted Thursday that it is just one of the options it is considering and that it is also interested in seeking alternative purchases of companies in Europe and the United States.

Role of the Spanish state

Indra’s plan for development in the defense, security and space sector is consistent with the Spanish government’s clear goal of gaining weight in this business at a time when geopolitical tensions and military conflicts are pushing all countries to strengthen their autonomy and sovereignty in this strategic area. . Indra likes it the main shareholder of the State Industrial Participation Company (SEPI) with 28%and its strategy is consistent with that of the Spanish executive.

State holding promises to play a leading role in corporate movements where does Indra work? And the satellite company Hispasat is owned by the Spanish state through the industrial holding SEPI and the research center CDTI and is majority controlled by Redeia (which is also owned by SEPI, with 20% of the capital as the main shareholder). “If the proposal or expression of interest is finalized, the board of directors of Redeia will analyze it from the point of view of strategic fit and the criterion of increasing value for our shareholders,” explain official sources from the group led by Beatriz Corredor.

One or more Minsait partners

Indra is refocusing its activities to become a leader in the defense sector and become a great national champion in the field of defense and security technologies, in line with the government’s objectives in this area. It is in this context that Indra wants to position itself in less than ten years as a new national giant (as has already been done by the British BAE Systems, the French Thales or the Italian Leonardo), in order to directly participate and coordinate the participation of the entire Spanish industry in European programs (such as the air defense system FCAS, Eurofighter, A400M transport aircraft…).

But the company also considers part of its new future plan to promote its large technology division Minsait, which will become a benchmark in this area. He also admits that the sale of part of this branch is being studied. The company admits that it is actively seeking a partner or partners for Minsait, but finding them will take time.