Cinven makes offer for Indra's Minsait Payments, Expansion reports
MADRID, Aug 29 (Reuters) -Buyout fund Cinven offered between 500 million and 600 million euros ($557-668 million) for the payment unit of Spanish tech and defence company Indra IDR.MC, newspaper Expansion reported on Thursday, citing unidentified market sources.
The unit, Minsait Payments, is part of Minsait, Indra's tech unit, which was reportedly put up for sale late last year and is worth as much as 2.1 billion euros, Expansion reported.
A spokesperson for Cinven declined to comment and spokespeople at Minsait did not immediately respond to a request for comment.
Minsait represented more than half of Indra's revenue in the first quarter of the year.
Indra, which is 28%-owned by the Spanish government, has benefited from the growth of European military budgets, mainly in air defence, due to the heightening world tensions.
($1 = 0.8984 euros)
Reporting by Inti Landauro; editing by Jason Neely
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