Indra has hired the services of the KPMG consultancy to study a Possible fusion with scribe mechanical and Engineering (EM & E), although the latter ensures that “it is not for sale,” according to various information published late on Thursday. It should be remembered that Em & e is Indra’s second largest shareholder with 14.3% of its shareholder, Only behind the government, which through the State Society of Industrial Participations (SEPI) has 28%.
Also, the president of Indra since January 19 is Angel Escribano, who has 50% of em & e, While his brother and president of Escribano Mechanical & Engineering, Javier Escribano, has the other half of the EM&E shareholders. In this context, Indra has hired KPMG services to carry out a Due Diligence aimed at exploring the possibility of merging with em & e, according to the newspaper Expansion.
The sources consulted have also pointed out that The operation would be carried out by means of a exchange exchange, which means there would be no direct purchase of EM & e by Indra. However, the president of EM&E, Javier Escribano – which is also part of the Board of Directors of Indra – has affirmed in statements to The newspaper that “The Escribano company is not for sale and of course is worth much more than 1,000 million “in reference to the assessment figures of EM&E that have been published in the last hours.
Increase its perimeter in defense
The potential fusion with em & e would be to indra to incorporate a Armament company, a business in which the company has already expressed interest. Em & e develops, among other products, torrettas for tanks and armored vehicles, a market in which the company participates with Indra, Sapa Placencia and Santa Barbara Systems (owned by General Dynamics) through the Tess Defense consortium, awarded manufacturing for the Spanish army of the 8×8 dragon and the chain support vehicle (Vac), two contracts valued each of them 2,000 million euros.
In fact, Indra has created a new subsidiary to manufacture military vehicles (Indra Land Vehicles) and He has tried to acquire the Santa Barbara Plant Systems in Trubia (Asturias) -in which the 8×8 dragon occurs -although it has encountered the refusal of General Dynamics, which is why the company finalizes now the purchase of the heavy boiler plant of Duro Felguera in Gijón to convert it and manufacture armored in it.
Likewise, it should be noted that it is expected that Indra will be the company that traccione – well alone or through temporary companies (UTE) – most of the Increased military spending in Spainsince the Government has recently announced an increase in the investment in defense of 10,471 million euros.
To this is added that Indra has also increased its perimeter of activity in the field of defense to the aerospace sector, which has been specified with the Acquisition to Redeia of 89.68% of Hispasat Satellite Services Operator for 725 million euros. However, as Indra herself has recognized, the most interested part of this operation is to take control of Hisdesat, the Spanish military satellite branch.
In that line, another of the options in the Indra radar goes through Increase its weight in the Basque Company of Motors for ITP aircraft Aero, of which it already has 9.5%. In fact, Angel Escribano himself acknowledged at the end of February, during the presentation of the results of the company corresponding to 2024, which ITP is “a yearning” for his company and left in the air the possibility of acquiring it, especially, at the moment in which the Bain Capital fund (which has 69.5% of ITP Aero) decides to leave the Basque firm.
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