The group of brothers Ángel and Javier Escribano has fulfilled its forecast and has acquired 8% of Indra's capital, according to an official announcement. This makes these businessman brothers the first shareholders of this strategic company after the State.
Their stake has a current value of more than 200 million and they describe it as "strategic". It thus exceeds the shareholding position of Amber, the fund of the chairman of Prisa, Joseph Oughourlian, to which 7.24% is attributed, and that of the Basque group Sapa, which holds 5%. The Fidelity fund also exceeds 7% but considers its participation to be purely financial. The 8% entitles Escribano to join the Board of Directors chaired by Marc Murtra.
According to an official statement from Escribano, "this is a strategic investment operation that aims to consolidate its business position, promoting the creation of new technologies, the development of new skills and the creation of qualified employment throughout Spain".
And he adds that "the operation will contribute to the development of current and future defense programs in which the company works for both the international and national markets." Both brothers already told this newspaper on June 10 that they would expand their presence in Indra to create a large Spanish defense group around this company that can participate with guarantees in the wave of European military contracts promoted after the war in Ukraine: " Either we create a national champion or we lose the new EU defense contracts"
Escribano maintains that this investment does not destabilize its accounts and points out that it is a growing company. The company currently exports to more than 25 countries and plans to close 2023 with a turnover of 120 million euros. In addition, it has recently received the BBB (Investment Grade) credit rating seal, a recognition that accredits its solvency to undertake corporate operations and that only 8% of the audited companies achieve."
It also assures that "it continues with its strategy of creating qualified employment and creating new technological capabilities with national sovereignty, betting on industrial collaboration through consortia and contributing to the growth of Spanish industry, having invested more than 77 million euros in Spanish companies in the last 3 years".