indra

Spanish economy 19th July 2023

Indra and Oesía team up to modernise new generation systems and services for Armed Forces, Police and Civil Guard

Link Securities| The Oesía group, a Spanish multinational company dedicated to industrial and digital engineering, and the technology and defence company Indra have signed a strategic collaboration agreement by which they will combine key technological capabilities to improve the global offer of new generation systems and services for the Spanish Armed Forces and Security Forces, which will improve the positioning of both companies in the international market and European programmes….

Companies, European economy 5th June 2023

Indra signs binding agreement to acquire Park Air UK

Renta 4| Park Air is a leader in ground-to-air radio systems for civil and military air traffic management. Its customers include air navigation service providers, airports, systems integrators and government military organisations. Park Air has annual sales of around €20 million, achieved negative EBIT in 2022, more than 120 employees and a partner and distribution network that enables it to supply systems in more than 100 countries. The acquisition would…

Companies, Relevant News Item, Spanish economy 20th February 2023

Indra wins contract to develop Navy’s new-generation electronic intelligence systems

Link Securities | The Directorate General of Armament and Material (DGAM) has awarded Indra (IDR) a contract to develop and test the Navy’s new generation of electronic intelligence systems within the Santiago national programme of Electronic Defence, according to Europa Press. The systems under development aim to facilitate the detection and generation of strategic information to ensure the access and use of the electromagnetic spectrum for the Armed Forces. Indra…

Companies, Ibex, Spanish economy 8th November 2022

Indra enters US market with acquisition of Selex’s air traffic control business

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…

Spanish economy 29th June 2022

SEPI’s Takeover Bid For Indra Would Cost 1.2 Billion Euros

“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…

Spanish economy 24th June 2022

Surprising: El País Owner Helps The Government Kick Out Indra’s Independent Directors And Take Full Control Of Indra Without Takeover Bid

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…

Spanish economy 17th June 2022

Joseph Oughourlian buys 4.2% de Indra one week ahead of its AGM

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…

Spanish economy 2nd June 2022

The Government asks Bain Capital to leave a period of six months open for Indra to participate in ITP Aero

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…

Spanish economy 23rd April 2022

Ongoing Instability In Indra’s Top Ranks Since The State Announced Hiking Its Stake: Cristina Ruiz Resigns

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…

Spanish economy 24th February 2022

The Government Wants Even More Control Over Indra, But Without A Takeover Bid

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…

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