Indra initiates the sale process of its payments subsidiary Minsait Payments

Indra officially announced that it is initiating the ‘formal process’ regarding options to sell its payments subsidiary Minsait Payments. 

Minsait Payments was created in 2020 and is currently valued at around 600 million euros. Indra Group is a holding company currently operating in the technology sector, which includes Indra, a leading global defence, air traffic and space company; and Minsait, a leader in digital transformation and information technologies in Spain and Latin America, where the payments subsidiary Minsait Payments is integrated.

Indra proceeded to carry out the first mandatory step in the process of the intention to sell, which is to inform the National Securities Market Commission (CNMV), without giving further details and noting that it will inform the market about how the procedure is progressing soon, as indicated in the stock exchange regulations. 

The Spanish company created the Minsait subsidiary shortly before the COVID pandemic broke out in order to ‘increase its leadership’ in the Spanish and Latin American markets and to grow in the technology sector, ‘one of the areas that generates the most value and has the highest profitability indicators within Indra’, according to the company itself.

For some months now, the company has been considering selling its payments business, which is valued at around 600 million euros. The option of including a majority shareholder for this branch of the company's business has also been explored. 

The board has not reached an agreement to sell the rest of the group's technology division or to break it up further. 

Indra thus seeks to take some of the focus away from this technology subsidiary dedicated to the electronic payments sector and focus more on the main area of its business, which is aerospace and defence.

Indra is a Spanish multinational company that offers consultancy services in transport, defence, energy, telecommunications, financial services, as well as services to the public sector. It is one of the largest arms companies in Spain, being one of the three Spanish companies among the 100 largest companies in the world in the defence and security sector, according to the reports of the Stockholm International Peace Research Institute (SIPRI). Furthermore, Indra has been a member of the Spanish IBEX 35 stock market index since 1 July 1999, which is an indication of its business volume. 

The company's chairman is Marc Murtra and the CEO is José Ángel de los Mozos, the two most visible heads of the Spanish multinational company.