Amber Capital has sold a 2% stake in Indra during ongoing negotiations to acquire Escribano, with implications for the defense sector and corporate governance.
Amber Capital, led by Joseph Oughourlian, has divested a 2% stake in the Spanish defense company Indra, which comes at a critical time as negotiations for the acquisition of Escribano, a family business related to Indra's president, are underway. The transaction is valued at approximately 175 million euros, demonstrating significant market interest despite the ongoing corporate dispute.
Despite the sale, Amber Capital retains a 5% ownership stake in Indra, maintaining its position as the fourth-largest shareholder of the company. This is notable because retaining over 5% allows Amber to avoid mandatory public disclosures of their transactions under the Commission Nacional del Mercado de Valores (CNMV) regulations. The news was initially reported by Cinco Días and later confirmed by El Mundo, highlighting the intricacies of media ownership and corporate decisions in Spain.
The situation raises important questions about corporate strategy and governance in the defense sector, particularly in light of the contentious acquisition of Escribano, which is pivotal for Indra's future. With the president of Indra expressing commitment to his role amid these negotiations, market responses such as the rebound in Indra's stock suggest that investor confidence may still be intact despite the internal conflicts. This development highlights the delicate balance of power within businesses, especially in periods of financial and operational restructuring.
