Indra begins the formal process for the sale of its subsidiary Minsait | The truth

The board of directors of the multinational Indra agreed this Monday to begin a formal process to analyze the different options regarding the future of its subsidiary Minsait Payments, including the sale to a third party. This has been reported in a statement to the National Securities Market Commission (CNMV).

In this way, Indra has indicated that it will inform the market in the near future about the evolution of the process that could lead to the sale of the payments company integrated into its technological division, in accordance with the requirements of securities market regulations. According to industry sources, the Spanish defense, telecommunications and transportation consulting group already received two unofficial offers months ago.

At the beginning of March, during the presentation of its new strategic plan, the company opened the door to the possibility of including partners, whether majority or minority, in Minsait. This subsidiary contributed more than half of the company’s turnover last year, specifically, 2,798 million euros compared to the total of 4,343 million that Indra invoiced in 2023. It also represented 48% of the gross operating profit (ebitda ), that is, 214 million euros out of a total of 446 million.

In this context, one of the options that was considered by the group’s management is the possibility that the company chooses to sell separately the business of Minsait Payments, Minsait’s payments subsidiary. Its market valuation would now be between 500 and 600 million euros.