Indra He turns into space and points Hispasat. Today the company agreed to Establishment of its new branch, Indra Espacio, into which its space business will be fully integrated, as approved by the Board of Directors last March. Shareholders have given the green light to spin off the independent economic unit formed by Indra Systemas Aerospace in favor of Indra Espacio, a newly created beneficiary company.
By creating this “new company”, Indra intends to develop her strategy into becoming a corporation “National Champion” of Technology and Defense. To achieve these goals, the company's strategy regarding mergers and acquisitions includes allocating a 75% of the mergers and acquisitions budget is for operations related to the defense and aerospace sectorsFocusing on Spain, Western Europe, the Middle East and North America, although all future transactions will align with its new strategic plan.
Within this strategy it makes sense. Possibility of purchasing Hispasat Which the company is evaluating. Hispasat is Major shareholder of state satellite operator HisdesatOf which it owns 43%. Hisdesat is 43% owned by Hispasat, 30% by the Ministry of Defence's public company ISDEFE (Systems Engineering for the Defense of Spain), 15% by Airbus Defense & Space, 7% by Indra itself, and 5% by Sener.
Indra wants the space business to be the cornerstone of the new aerospace company, the aim of which will be to develop the company's capabilities in the satellite sector. His challenge is that in 2030 this sector will represent some Revenues 1 billion euros. Indra's goal is to create a Spanish company capable of… “Control of the value chain” of spaceThat is, it can build satellites, antennas or radars, for example. In my opinion, Its CEO, José Vicente de los MozosMastering the entire value chain means opening up opportunities for new and better contracts at European level.
Last week, the president of the satellite operator, Pedro Duque, confirmed that in addition to Indra, there are other buyers interested in Hispasat. What is still unknown is whether the process, if successful, will be an integration between the two or whether it will be completed in another form.
Although Hispasat seems like a logical purchase option for Indra, De los Mozos, as he did months ago, insists again today that he is not excluding others Because it is “not the only space operator” in Europe. “We will see in the coming months,” de los Mozos added, stressing that they are exploring acquisitions “across the entire value chain.”
New advisor
Along with the creation of Indra Espacio, the company's shareholders also gave the green light. Appointment of Javier Escribano as Special Director In representation Mechanical and engineering writer After this company requested it in March after that After increasing its stake in Indra from 3.4 to 8% last November. The entry of Escribano led to the departure of independent director Elena García Armada, which caused some discomfort among some of the company's shareholders due to the imbalance it created in the board against independents. he Company President Marc MurtraHe explained that the advice resulting from these two movements is “temporary and transitory” in nature and that it will be sized appropriately to comply with good corporate governance best practices.
Murtra also got Shareholders enjoy performing their executive duties.
