Bankinter | Indra has bought Selex’s air traffic control business in the US. With this acquisition, the Spanish company, already one of the leaders in European air traffic control business, has now positioned itself in the US market. No details are yet known on the price of the transaction, but it is expected it will be completed in Q1 2023, once the relevant regulatory approval has been obtained. Analysts team’s…
“The Spanish government’s takeover of Indra is going to put the Comisión Nacional del Mercado de Valores (CNMV) on the spot, as the outcome could have a high cost for Spanish taxpayers. At first glance, it seems obvious that there has been an agreement between shareholders holding more than 30% of the capital of the technology and defence company to overturn its board of directors,” explains the daily Expansión, which…
Surprisingly, outside the agenda of the General Shareholders’ Meeting, the representative of Amber Capital – which controls Grupo Prisa (El País, la SER…) and announced a week ago it also controls 4.1% of Indra – has proposed the removal of 4 of the company’s remaining independent directors: Alberto Terol, Enrique Leiva, Carmen Aquerreta and Ana de Pro. A proposal that has had the support of 53% of the capital, including…
Intermoney | Joseph Oughourlian (CEO de Amber Capital) has bought 4.2% of Indra (IDR) one week before the group’s AGM. In our view, the move is aimed at obtaining “independent” support to grant executive powers to the current chairman Marc Mutra. He has the backing of SEPI (25%, with authorisation to reach 28%). Valuation: we believe Indra’s potential could be undermined if with SEPI’s increase the handover of executive powers to…
BancaMarch | The Government has made a request to US fund Bain Capital for a window of an additional six months, with the aim of incorporating a Spanish partner, presumably Indra, into the shareholding of Basque airplane engines manufacturer ITP Aero. This is according to several media reports. Bain anticipates closing the acquisition of ITP in June. Thence the request for an additional time period so that Indra, in which…
Doña Cristina Ruiz, Co-CEO of Indra and in charge of the Minsait (IT) division has resigned due to internal tensions. Da. Cristina Ruiz joined Indra in 2011 as the director of the Energy market. In 2017, she was appointed Executive Director and managing director of Minsait. Then in May 2021, after the exit of Fernando Abril-Martorell, she was named Co-CEO along with Ignacio Mataix, head of the T&D division. The…
The Council of Ministers has authorised the state to hike its stake in Indra (IDR) through SEPI. It will increase its control from the current 18.7% to 28%. “The motive behind the government’s reasoning is greater control in a key company for the country’s defence system”, says Renta 4. At current prices, the increase in its stake would mean an investment of just over 150 million euros. According to press…
Alphavalue |Indra has won an over 180 million euros contract to provide cutting edge technology for the new Eurofighter planes for the country’s airforce. It will also maintain the existing fleet, the company said on Wednesday. Specifically, the Spanish IT services and consulting company will equip the 20 new Eurofighters in the Halcón Programme with the ESCAN radar with electronic scanning and the DASS (Defensive Aids Sub-System).
Indra plunged 11.51% on Wednesday in the stock market to 9.34 euros, after Corporación Financiera Alba announced its gradual exit from the company after selling 5% of the capital to SAPA. Following the announcement, Indra recorded its biggest fall on the stock market since March 2020. The March holding company sold this stake to the defence group for just over 90 million euros and will leave the company’s board in…
Indra has signed contracts worth €100 million to equip the 38 Eurofighters the German Ministry of Defence has acquired as part of the Quadriga programme, with the latest generation systems that will ensure the aircraft’s superiority for decades to come. The firm will develop and produce, in consortium with German sensor supplier Hensoldt, the new ESCAN Mk1 electronically scanning radar.