Bankinter | Indra’s Board of Directors has unanimously agreed to the potential acquisition of Escribano Mechanical and Engineering (EM&E).
In its statement, the Company mentions that ‘the potential transaction is consistent with the strategy of the Indra Group’ and that ‘the agreement does not imply or anticipate the approval of any transaction’.
Bankinter analysis team’s view: Limited impact, as it was practically a foregone conclusion that Indra’s Board would approve the potential purchase of EM&E. Furthermore, the press release does not specify valuation amounts or deadlines for closing the deal.
