Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Buyout funds Bain, Cinven mull buying Indra's Minsait, El Confidencial says

Published 12/12/2023, 03:20 AM
Updated 12/12/2023, 03:25 AM
© Reuters. File photo: Logo of Bain Capital is screened at a news conference in Tokyo, Japan September 28, 2017. REUTERS/Kim Kyung-Hoon/File Photo
IDR
-

MADRID (Reuters) - Private equity funds Bain Capital and Cinven are considering making an offer for Spanish defence company Indra's tech unit Minsait, news website El Confidencial reported on Tuesday, citing unidentified sources close to the process.

Minsait, which represents about half of Indra's business, would be worth 1.6 billion to 1.8 billion euros ($1.72 billion-$1.94 billion), El Confidencial said, adding Bain would make an offer for at least a 49% stake.

Indra's CEO Marc Murtra recently said the company was considering all options regarding Minsait to raise cash to finance its growth, El Confidencial said.

A spokesperson for Bain declined to comment. Cinven and Indra did not respond to requests for comment.

Indra's main shareholder is Spanish state holding company SEPI with a 25.2% stake, data from LSEG shows.

Indra's strategic relevance has increased since Russia's invasion of Ukraine as Spain has promised to boost its defence spending as required by NATO in the coming years.

($1 = 0.9282 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.