Indra falls 13.6% in two inventory market classes as a result of doable substitute of its president | Companies | EUROtoday

Indra is struggling a pointy drop within the inventory market of 13.65% in simply two days as a result of expectation that there might be a change within the firm’s presidency. The inventory market decline just isn’t trivial, because it happens with an unusually excessive buying and selling quantity, triple the typical. In this context, the Government has taken one other step to power a change on the head of the protection and expertise firm. The motion happens whereas the corporate continues engaged on the merger or buy of Escribano Mechanical & Engineering (EM&E), an organization owned by the present govt president of Indra, Ángel Escribano, who in flip holds, collectively together with his brother Javier, 14.3% of the shares of the Ibex 35 firm.

Sources conscious of the present state of affairs point out that the Executive, which controls the multinational with 28% of the shares by SEPI, is exploring the potential for changing its president. Sources near the Executive level out that their assist for the operation between Indra and Escribano has been cooling because of observing a battle of curiosity. A authorities spokesman declined to touch upon the data.

Although the choice has not but been made and there may be division between completely different actors involved, La Moncloa is already occupied with a substitute for the place. In this sense, and at all times in accordance with the identical sources, there may be hypothesis in regards to the risk that the presidency might be provided to Raül Blanco, former president of Renfe and former Secretary General of Industry, who’s presently a senior supervisor at SAPA, in flip a related shareholder of Indra with 7.94% of the share capital.

In 2025, Indra had been probably the most bullish worth of the 35 Ibex, with an increase of 184%, given the robust development of expertise within the navy enterprise, booming within the face of European rearmament plans and the prospects of an integration with Escribano, seeking the creation of the so-called nationwide protection champion. Indra has been, along with Airbus and Navantia, one of many predominant winners of the Special Modernization Programs (PEM) that channel the State’s funding in protection and safety. From the 54.2 euros it was value on Monday, the share fell to 46.8 on the shut of Wednesday.

The operation started to be addressed in 2024. The firm’s CEO, José Vicente de los Mozos, already then thought of exploring the acquisition of EM&E with the purpose of turning Indra right into a nationwide protection champion that may compete with the majors within the sector, comparable to Rheinmetall and Leonardo, for which he believes it’s needed to achieve capability and dimension.

The operation had the assist of SEPI, the corporate’s first shareholder, from the start. However, another shareholders expressed doubts, for which a fee of independents was established for this to review mentioned buy. In this sense, each Ángel and Javier Escribano have been utterly overlooked of the deliberations inside Indra, however the doubts haven’t disappeared even though earlier than the tip of the yr the board of administrators licensed the mandatory steps for the acquisition to be addressed.

Last Thursday, on the final board assembly held by Indra, the corporate permitted that the completely different avenues for the acquisition be studied, because the construction has not but been determined. In this sense, De los Mozos was licensed to start conversations with EM&M to suggest the completely different formulation for the operation. It just isn’t clear whether or not a merger, a purchase order or one other monetary choice is extra appropriate. The Amber fund, the fourth largest shareholder of Indra with 7.24% (and the primary shareholder of Prisa, writer of EL PAÍS and CincoDías) spoke in favor of going forward with the merger.

This identical Tuesday, the corporate plummeted greater than 8% on the inventory market because of info that the SEPI needed to paralyze the union with Escribano. As printed The Confidentialthe president of the funding arm of the State, Belén Gualda, referred to as the CEO of Indra to cease the brand new steps that have been supposed to be taken. This Tuesday, De los Mozos himself identified that if Escribano weren’t president of Indra, the operation with EM&E “would already be done.” Among the choices dealt with by the board of administrators, it was additionally contemplated that Escribano would step apart. The president’s entourage denies this request to go away. Moncloa, in accordance with some sources, additionally welcomed with displeasure the departure of Carmen Pérez from the corporate, the place she was communications director, final week.

It ought to be famous that amongst Indra shareholders, the presence of SAPA has its particular weight. The Basque protection agency is a strategic companion of General Dynamics within the United States. This American multinational, suggested for its exercise in Spain by Moncloa’s former chief of workers, Iván Redondo, is the proprietor of Santa Bárbara Sistemas (SBS). In current weeks, SBS has filed a lawsuit to paralyze the credit that the Ministry of Defense has granted to Indra to develop numerous modernization packages for the Spanish Army.

Ángel Escribano himself admitted within the Congress of Deputies in March 2025 that Indra tried to take over Santa Bárbara, which he accused of an absence of funding since its privatization in the beginning of the century. General Dynamics rejected the sale of the corporate to Indra. Santa Bárbara and Indra are rivals in the identical protection sector that’s booming as a result of rearmament of the completely different NATO member international locations. But additionally they share initiatives, such because the 8×8 Dragon tanks for the Spanish Army. Some armored autos that brought about the Defense Minister, Margarita Robles, to complain about delays in deliveries, though that battle was thought of resolved.