Indra Group's Extraordinary General Shareholders' Meeting approves the purchase of 89.68% of Hispasat

The Extraordinary General Shareholders’ Meeting of Indra Group, held today at the second call at the company’s headquarters in Alcobendas, Madrid, approved the acquisition of 89.68% of the share capital of Hispasat S.A. with the support of 99.98% of the shareholders. 

Indra Group signed an agreement with Redeia Corporación on January 31 for the acquisition of 89.68% of Hispasat, a satellite operator and service provider, amounting to 725 million euros. 

The purchase is subject to the fulfillment of a series of suspensive conditions that are customary in these kinds of operations. In the wake of the approval of Indra Group’s General Shareholders’ Meeting, and now that the other conditions have been met, it is envisaged that all of the outstanding formalities will be completed and the operation will be finalized by the end of the year (within the expected term).    

This operation will endow Indra Group with capabilities to manufacture satellites, market satellite services, and design and implement value-added solutions linked to infrastructures in space. The proposed agreement will also mean Hisdesat can be taken over and included in the accounting consolidation perimeter.

“Major projects require great partnerships and we believe that this is one of them. Hispasat will provide Indra with fundamental strategic advances”, declared Ángel Escribano, Indra Group’s Executive Chairman, to the shareholders. “This acquisition will enhance our industrial and technological capabilities in space, which is not only one of the decisive domains when it comes to security and defence, but also a key to the development of European sovereignty. We remain steadfast in our common aim of turning Indra into a company with a direct impact on the local economy and employment, while boosting its ability to compete with the leading technology and industrial companies in Europe and worldwide”. 

As for Indra Group CEO José Vicente de los Mozos, he highlighted that “the integration of Hispasat’s knowledge and capacity will enable us to cover the entire value chain and become a European benchmark of the highest level. Space is becoming firmly established as a strategic domain with a growing civil-military duality. I’m referring to highly important issues, such as secure communications and satellite surveillance to guarantee national sovereignty and the protection of our private data. Besides, the integration of Hisdesat will complement our capabilities in the defence sector with one of the most advanced military satellite fleets in the world”.

Composition of the Board of Directors 

The shareholders who were present or represented at the meeting approved the resolutions related to the composition of the Board of Directors.  

The re-elections of three independent directors, María Belén Amatriain Corbi, Virginia Arce Peralta and Bernardo José Villazán Gil, and the proprietary director, Juan Moscoso del Prado Hernández, were approved as a result of the expiry of their terms of office on October 28, 2025. The shareholders also voted in favor of the ratification and re-election of María Teresa Busto del Castillo as a director, following her appointment by co-optation on September 30, 2025.

Finally, they voted in favor of the appointment of a new independent director, María Aránzazu Díaz-Lladó Prado. During the meeting, the Board thanked the outgoing directors Coloma Armero Montes and Olga San Jacinto Martínez for their valuable contributions to Indra Group. 

With regard to the proposed resolution submitted to the General Shareholders’ Meeting under item 2.5. of the agenda (Appointment of Ms. Mónica Helena Espinosa Caldas as an independent director), as the Company reported to the CNMV on November 26, 2025, Ms. Espinosa Caldas informed the Company, in a  letter dated November 24, 2025, that she was unable to take up said position.

As a result of this unforeseen circumstance, the Board will be made up of fifteen members, 46.66% of whom will be independent directors and 33.33% of whom will be women. 

The Board will take the actions required to implement a selection process for a new independent director, which will be led by the Nominating, Compensation and Corporate Governance Committee, following the advice of a specialized consulting firm. 

Once this process has been completed, the corresponding proposals will be submitted to a further General Shareholders’ Meeting, in order to ensure that once again 50% of the directors are independent and 37.50% are female.