The Council of Ministers has authorized this Tuesday the State Company of Industrial Participations (SEPI) to increase its control position in Indra and reach 28% of the shareholding.
Indra’s shareholders ratify Marc Murtra as chairman and the CEOs by a large majority
This means that the public company can buy approximately an additional 10% of the Spanish technology company, of which it is already a reference shareholder and of which it controls 18.75%, according to the records of the National Securities Market Commission. (CNMV).
SEPI explains to the market regulator that the decision to increase the participation of the public company “responds to the State’s renewed commitment to a company that has recently taken on challenges of special importance for the interests of our country and our closest allies.”
Among them, “especially noteworthy is the Future Combat Air System or FCAS (Future Combat Air System), of which Spain is a part with Indra as the industrial leader of Spanish participation”.
“This decision is driven by the purpose of providing Indra with shareholder stability and effective support so that it can successfully carry out the commitments assumed,” indicates SEPI.
A decision that you want does not impact your stock price. “With the agreement of the Council of Ministers, SEPI will proceed to carry out the procedures and actions that allow the process to be launched, without affecting the price, to complete the acquisition of the necessary volume of shares.”
At the close of Tuesday’s session, Indra shares stood at 9.25 euros, which leaves the company’s market value at 1,630 million.