Indra evaluates a merger with Escribano but the company denies that it is "for sale"

Indra confirmed yesterday in a brief note sent to the National Securities Market Commission (CNMV) what the market knew loudly last Thursday: the company explores...

Indra has hired the services of the consulting firm KPMG to study a possible merger with Escribano Mechanical and Engineering (EM&E), although the latter assures that "it is not for sale", according to various information published late this Thursday. It should be remembered that EM&E is the second largest shareholder of Indra with 14.3% of its shareholding, only behind the government, that through the State Society of Industrial Participations …

Indra is studying a possible integration with the family company of Escribano Mechanical & Engineering Defense (EM&E Group) to gain productive capacity, according to sources of the sector. The family company of which he was president until last January Angel Escribano, current president of Indra, owns 14% of the latter, controlled by 28% by the State Society of Industrial Participations (SEPI).

Related news Indra values a possible merger with Escribano to increase its exposure to Defense From Bankinter they point out that, "although it would have strategic meaning, it would also probably be dilutive for Indra." That is, "the strategic sense should compensate the likely dilution of the benefit per action (BPA) in the short term, although we cannot affirm this strongly due to insufficient data on EM&E. The operation could accelerate the …

Indra has confirmed a "possible operation" with Escribano Mechanical & Engineering (EM&E) in a statement sent this Friday to the National Securities Market Commission (CNMV) following the information published this Thursday. However, it has declared that it is one among so many other alternatives framed in its strategic plan and that it is a continuous process led by the CEO (José Vicente de los Mozos).

Indra has confirmed a "possible operation" with Escribano Mechanical & Engineering (EM&E) in a statement sent this Friday to the National Securities Market Commission (CNMV) following the information published this Thursday. However, it has declared that it is one among so many other alternatives framed in its strategic plan and that it is a continuous process led by the CEO (José Vicente de los Mozos).