Spanish technology and defense giant Indra is reportedly considering selling off some of its assets to finance its acquisition of Hispasat, a major satellite operator. This move comes as the company secures financing to support the deal.
Financing the Hispasat Acquisition
To facilitate the Hispasat acquisition, BNP Paribas and BBVA have initiated a syndication of a substantial €700 million loan. This financial maneuver includes raising €200 million through short-term debt. The plan is to later refinance this short-term debt through strategic asset divestitures. This demonstrates a clear strategy by Indra to manage its financial obligations related to the acquisition.
The specifics of which assets Indra might sell remain undisclosed, but the company's willingness to consider divestitures highlights its commitment to completing the Hispasat deal. The acquisition promises to strengthen Indra's position in the communications and space technology sectors.
Minsait Joins Forces with Aelec
In other news, Indra, through its subsidiary Minsait, has forged a partnership with Aelec, the influential electrical association. Aelec represents major players in the energy sector, including Iberdrola, Endesa, and EDP.
This collaboration aims to champion the development of electricity distribution networks. Aelec already includes five technology-focused members, and Minsait's addition further strengthens the association's technological expertise. The partnership underscores the growing importance of technology in modernizing and optimizing energy distribution.
“This partnership is crucial for fostering innovation and ensuring reliable and efficient energy distribution across the country," a representative from Aelec stated.
Looking Ahead
Indra's strategic moves, including the potential asset sales to finance the Hispasat acquisition and Minsait's partnership with Aelec, indicate a company focused on growth and innovation. The coming months will reveal further details about Indra's asset divestiture plans and the impact of its collaboration with Aelec on the energy sector.
