LA PLATA, Maryland — Spanish public infrastructure provider Redeia Corp. purchased satellite fleet operator Hispasat in 2019 for 949 million euros and is now selling it to diversified defense, air traffic and space conglomerate Indra Group for 725 million euros ($750.3 million), a 23.6% decline that reflects the challenges facing geostationary-orbit-focused operators.
Indra is purchasing Redeia’s 89.6% equity stake in Hispasat. State holding company SEP and Spain’s CDTI technology-development institute will retain their shares of 7 . . .
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