Indra begins the formal process for the sale of its subsidiary Minsait

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

In this way, Indra has indicated that it will inform the market in the coming dates about the evolution of the process that could lead to the disposal of the payment company integrated into its technology division, in accordance with what is required by securities market regulations. According to industry sources, the Spanish consulting group for defense, telecommunications, and transport 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 billion euros out of a total of 4.343 billion billed by Indra in 2023. It also represented 48% of gross operating profit (ebitda), that is, 214 million euros out of a total of 446 million.

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