Indra, a leading global technology and consulting company, has sold the real estate and entire surface area of its facilities at Mar Egeo Street in San Fernando de Henares (Madrid) to XDATA Properties, a company in the Stoneshield Capital group.
The sale of these facilities forms part of Indra’s strategy to review its portfolio of existing assets and proceed with the sale of those that can achieve attractive market valuations without affecting the company’s core business. This operation follows in the footsteps of last year’s sale of Metrocall (Indra’s subsidiary responsible for operating the mobile telephony business on the Madrid subway system) to Cellnex.
In addition to the monetisation of the asset, the operation will enable Indra to provide the affected employees with more modern facilities suited to current labor requirements, resulting in annual operating expense savings totaling €500,000 for the company.
Indra will continue to occupy the space it currently uses at these facilities for twelve months, which may be extended for an additional six months, following the signing of a lease agreement for the above period. Throughout this period Indra will gradually transfer the activities at the above center in an orderly manner, moving to new facilities that the company intends to locate in an area close to the center.
The operation will not affect Indra’s Data Processing Center service. The services offered to Indra’s customers via the DPC hosted in Mar Egeo Street will not be affected by the sale of the facilities; as a result of a long-term housing contract signed with XDATA Properties, Indra will continue to guarantee the continuity of these services and their operation, without any impact on the Service Level Agreements (SLAs) and the contractual commitments it has acquired. Likewise, Indra will cover its own Information Technology requirements.
On this land, Stoneshield aims to build the most powerful data centre in Spain and even in southern Europe within three to four years, expecting to mobilise an investment of €750 million.
Pérez-Llorca advised XDATA Properties (Stoneshield) with a team formed by Real Estate partner Javier Muñoz Méndez, Land Planning and Environment partner Alberto Ibort and Tax partner José Azqueta, along with Real Estate lawyers Diego Peral and Paula Quintillán, Land Planning and Environment lawyers José del Saz-Orozco and Clara Carazo, and Tax lawyers Viktoriya Petkova, Roger Morera and Arturo Parellada.
