Report by Renta 4 Indra announced yesterday that the Board of Directors has appointed Jose María Recasens as the new Chief Executive Officer following the “non-renewal” of Mr José Vicente de los Mozos. Mr Jose María Recasens is Renault’s Chief Strategy Officer. The change will take effect on 17 June. An appointment that came as no surprise after it had been reported in the press that he was one of…
Indra has announced that it has launched a search for a new chief executive following the decision not to renew the contract of the current CEO, José Vicente de los Mozos, which expires on 30 June. Reported by Editorial Team Directors Indra’s CEO, José Vicente de los Mozos, will not continue in his role, the company announced on Monday, adding that it has launched a selection process to find a…
Bankinter | The Escribano brothers have sold their 14.3% stake in Indra, valued at €1.32 billion. The details of the transaction are not yet known. Based on yesterday’s closing price, the transaction would be valued at €1.322 billion. With this move, Javier Escribano resigns as a director of Indra, as Ángel Escribano did after stepping down as Chairman on 1 April 2026. Analysis team’s view: Slightly negative impact on the…
Banc Sabadell | The Supreme Court has rejected Santa Bárbara’s request for interim measures to freeze €3 billion in government loans at 0% interest to pre-finance the wheeled and tracked artillery programmes awarded to two joint ventures (JVs) established by Indra (IDR) and EM&E. Santa Bárbara filed an administrative appeal against this state pre-financing at the end of last year. Despite the rejection of the interim measures, the proceedings before…
Renta 4 | Indra (IDR) Land Vehicles and IDV, a division of the Italian company Leonardo, have signed a strategic agreement to develop the new amphibious combat vehicle for the Royal Marines. The agreement is designed to fulfil the Special Modernisation Programmes assigned to Indra. Indra will deliver four variants of the vehicle: troop transport, command and control, recovery and ambulance. Assessment: We view favourably the agreement between two of…
Alphavalue/Divacons | The Spanish IT services and consultancy firm is finalising the details of an agreement with Iveco Defence Vehicles (IDV), a subsidiary of the Italian giant Leonardo (downgrade, Target Price €48.1/share), for the supply of amphibious armoured vehicles for the Spanish Navy. The contract, valued at €374 million, will be carried out through a joint venture (JV) formed by Indra and Escribano Mechanical & Engineering (EM&E). The project involves…
Link Securities | The Escribano brothers are taking steps to bridge the gap with the Government. The family has commissioned JP Morgan to seek potential buyers for its 14.3% stake in Indra, according to sources familiar with the matter speaking to Vozpopuli.com. Among the options on the table are both a potential partial and total sale of this stake, against a backdrop marked by the government’s demands to revive the…
Norbolsa | Both companies are considering a potential strategic alliance in cybersecurity, cyber defence and artificial intelligence to bid for major defence contracts in Spain, following the example of Tess Defence. This would enable them to bid jointly for future contracts worth over €1 billion. The model would consist of a consortium open to further partners and backed by the government, and would seek to create a sovereign technology platform…
Banc Sabadell | Some Indra (IDR) shareholder funds led by Amber Capital (which controls 5%) and representing around 20% of the shareholding are reportedly urging the company to resume negotiations for the merger with EM&E as soon as possible, now that Ángel Escribano (who controls 14.3% of IDR) has resigned as Chairman, being replaced by Ángel Simón (nominated by SEPI), according to elEconomista. According to the same report, SEPI has…
Banco Sabadell | At an Extraordinary Board Meeting last week, Ángel Escribano resigned as chairman (and director) of Indra and has been replaced by Ángel Simón, who is close to the government and was previously CEO of Criteria Caixa and chairman of Aguas de Barcelona. He will have no executive duties and, in principle, Jose Vicente de los Mozos will continue as CEO. The change serves to ease tensions, but…