How the tension between the Government and the Escribano over the control of Indra frustrated the great merger of the Spanish defense
The merger between Indra and Escribano Mechanical & Engineering was thwarted due to tensions between the Spanish government and the Escribano family, leading to significant implications for the defense sector in Spain.
The Government sees Ángel Escribano's continuity as unsustainable: "How can he continue in an Indra that needs a new strategic plan without his company?"
The Spanish government believes that Ángel Escribano should resign as president of Indra due to conflicts of interest after he withdrew the proposal to merge with his family company.
The Question That Remains to Be Answered to Decipher the Hieroglyph of Escribano
The Spanish government is facing scrutiny over a potential conflict of interest involving Indra’s interest in acquiring Escribano Mechanical & Engineering, given Indra's president is also a co-founder of Escribano.
The Escribano do not throw in the towel at Indra and throw down the gauntlet to Moncloa: "The operation is only on hold. We are staying"
The Escribano brothers, despite government pressure for their dismissal at Indra, have decided to remain in their positions, indicating that their controversial fusion plan is only temporarily on pause.
The CNMV supervises the situation at Indra and demands "transparency" from the Government and Escribano amid bearish attacks on the stock
The CNMV is stressing the need for transparency from the government regarding changes in the leadership of Indra, particularly as the company's stock faces bearish pressure.
The Escribano family plans to inform Indra's board of their withdrawal from the EM&E merger after pressure from the SEPI
The Escribano family is expected to announce their withdrawal from the merger with Indra due to pressure from the State Industrial Participation Company (SEPI).
The Battle for the Presidency of Indra Now Moves to a Board with Major Shareholders at Odds
The power struggle over the presidency of Indra intensifies as the main shareholders confront each other over leadership and potential conflicts of interest.
The president of Indra does not resign and demands explanations for the change of position from Moncloa regarding the merger with Escribano
Indra's president, Ángel Escribano, refuses to resign despite pressure from the Spanish government and demands clarification on the recent change of stance regarding a merger with his family business.
Moncloa breaks with Escribano and gives him an ultimatum: either he leaves the presidency of Indra or rejects the merger with his company
The Spanish government has issued an ultimatum to Indra's president, Ángel Escribano, either to resign or for the government to reject the merger with his company.
SEPI points to Escribano's exit from Indra's presidency before proceeding with the merger with EM&E
The Spanish government has expressed its dissatisfaction with the proposed merger between Indra and Escribano Mechanical & Engineering, signaling a potential change in leadership at Indra.
Sepi avoids publicly supporting Escribano and heightens tensions in Indra's board
The Spanish firm Indra faces increasing tension regarding its leadership as Sepi refrains from supporting CEO Ángel Escribano publicly, leading to significant stock market fluctuations.
Indra plunges 7% amid new rumors of a change in its president
Indra's stock has dropped 7% due to uncertainties regarding the potential replacement of its president, Ángel Escribano, amid ongoing government negotiations.
The Escribanos, willing to remain partners in Indra below the Government to save the merger with their company
The Escribano brothers are strategizing to facilitate a merger between their defense company and Indra while navigating government interests.
The new shareholder of Indra warns SEPI that stock market value will erode if the merger with EM&E is halted
Third Point, an activist investment fund, warns that delaying Indra's merger with Escribano Mechanical & Engineering could lead to a significant loss in stock market value.
Indra grants De los Mozos powers to negotiate the merger with Escribano without approval from the independent commission
Indra has authorized De los Mozos to negotiate a merger with Escribano, circumventing the independent commission due to ongoing conflicts of interest.
Third Point, the activist fund that revolutionized Sony and Nestlé and wants to force SEPI to merge Escribano and Indra
The activist fund Third Point is pushing for the merger of Escribano and Indra, creating tension in the Spanish corporate governance and possibly influencing government decisions.
Ángel Escribano, Ibex 35 Executive of the Year by Cinco Días: 'Defense should be an economic and industrial lever'
Ángel Escribano, president of Indra, has been recognized as the Ibex 35 Executive of the Year for his leadership in the military and technology company, emphasizing the role of defense in boosting Spain's industrial and digital sovereignty.
Indra accelerates on the stock market after announcing activist fund support for the purchase of Escribano
Indra's stock rose by 3.42% following the announcement of Third Point hedge fund's support for its acquisition of Escribano Mechanichal & Engineering.
The owner of Prisa's fund sells 2% of Indra amid a dispute over the purchase of Escribano
Amber Capital has sold a 2% stake in Indra during ongoing negotiations to acquire Escribano, with implications for the defense sector and corporate governance.
The Government wants to fit Escribano as a subsidiary of Indra
The Spanish Government is inclined to position Escribano Mechanical & Engineering (EM&E) as a subsidiary of Indra rather than accepting a merger that would significantly increase its shareholder weight.
The Government wants Indra to buy only 51% of EM&E, an option that the Escribano reject
The Government of Pedro Sánchez is no longer convinced by the merger of Indra with the Escribano family company, now proposing that Indra only acquire a 51% stake, which the Escribano brothers completely dismiss.
The Government suggests that Indra buy the majority of Escribano without fusion
The Spanish government is proposing that Indra acquire a majority stake in Escribano Mechanical & Engineering without merging the two companies.
The Government does not have on the table today "the replacement of Escribano at the head of Indra"
The government is not currently considering replacing Escribano as head of Indra, despite recent discussions surrounding his family's company's acquisition options.
SEPI waits for next board meeting to discuss how to complete the integration of Indra and Escribano
SEPI is waiting for the next board meeting to determine how to finalize the integration of Indra with Escribano Mechanical & Engineering, while the change of Indra's president is not currently under discussion.
Indra bleeds 15% on the stock market in three days amid rumors of Moncloa's intervention to dismiss Ángel Escribano: "No one has asked me to resign"
Indra's stock has dropped 15% in three days as rumors swirl regarding government intervention to remove CEO Ángel Escribano, who publicly denied any resignation requests from the government.
Escribano: 'No one has requested my resignation'
Indra's president, Ángel Escribano, has stated in a communication to Bloomberg that no one has requested his resignation amid a 15% stock drop in four days.
Indra falls 13.6% in two stock sessions due to possible leadership change
Indra's stock has dropped 13.6% over two days amidst expectations of a leadership change as the government, which owns 28% of the company, considers promoting a new CEO during the acquisition process of Escribano Mechanical & Engineering.
The Santa Bárbara battle with Indra threatens credits of over 14,000 million to the defense industry
A legal battle between Santa Bárbara Sistemas and companies Indra Sistemas and Escribano Mechanical & Engineering risks the annulment of over 14.4 billion euros in credits for the defense industry.
Two new challenges for Indra: meeting with Escribano for its merger and purchase of another factory
Indra's board has authorized its CEO to meet with the management team of the company led by Escribano while exploring options to acquire another factory in Spain for armored vehicle production.
This is how a bullfighter's body reacts to a goring
Researchers in sports science document the psychophysiological response of Manuel Escribano after suffering a severe goring.
Indra authorizes its CEO to negotiate the structure of a deal with Escribano
Indra's board has authorized CEO José Vicente de los Mozos to negotiate the structure of a potential transaction with Escribano Mechanical & Engineering, initially considered as a merger by absorption but now exploring alternatives.
Spain has launched its 'drone army' for future wars
Spain is developing a 'drone army' to achieve national sovereignty in the manufacture of unmanned aerial vehicles, as emphasized by Indra's president, Ángel Escribano.
The American General Dynamics will appeal to the Supreme Court contracts worth 7,240 million to Indra and Escribano
American company General Dynamics plans to appeal to the Supreme Court over two major artillery contracts recently awarded by the Ministry of Defense to a consortium of Indra and Escribano for a total of 7.24 billion euros.
The Supreme Court accepts a challenge from Santa Bárbara to block 3 billion in public loans to Indra and Escribano
The Supreme Court has accepted a challenge from Santa Bárbara to prevent 3 billion euros in public loans to defense firms Indra and Escribano, alleging exclusion of their national technology from the state's industrial plan.