The Government authorizes the purchase of 89.68% of Hispasat by Indra for 725 million

The Council of Ministers this Tuesday has authorized the purchase of 89.68% of Hispasat by Indra for 725 million euros, as sources familiar with the situation have confirmed to Europa Press. The operation, which also includes the takeover of Hisdesat – the military satellite branch of Hispasat – had already received the support of the National Markets and Competition Commission (CNMC) and the approval of Indra’s shareholders, as well as the mandatory authorizations in the different countries in which the company operates.

Sources familiar with the situation have indicated that the initial idea was that the Government had given the ‘OK’ to the operation in the Council of Ministers last week, an approval that is considered a mere procedure given thatThe State is the main shareholder of Indra with 28% of the capital through the State Society of Industrial Participations (SEPI). In this context, it is expected that the operation will be completely closed in the coming days, before the end of the year, so that Indra can consolidate Hispasat’s operations in the accounts for the next fiscal year.

The purchase of Hispasat and the takeover of Hisdesat is the cornerstone of Indra’s strategy in the space sector, one of the markets on which the company has opted in its shift towards defense. It is worth remembering, for example, that the Government granted a loan of 1,011 million euros at 0% interest to Hisdesat to pre-finance the ‘PEACE 2’ program, included in the State’s plans for military modernization.

Likewise, among the most relevant projects in which Hispasat participates is IRIS2considered one of the flagship programs of the European Union in terms of secure connectivity and with which A constellation of 290 new satellites is expected to be in service by 2030. low Earth orbit (LEO) and medium Earth orbit (MEO). This project, in which Hispasat participates through a consortium called SpaceRISE and also made up of Eutelsat and SES, will have 6.5 billion euros of public funds from the European Commission, the EU Member States and the European Space Agency. In this sense, Hispasat is responsible for designing, developing and implementing the ground segment of IRIS2, that is, all the facilities necessary for the management and operation of the different orbital layers of the constellation, as well as the interconnection with terrestrial networks.