Marc Murtra, president of Indra.


Marc Murtra, president of Indra.
Marc Murtra, president of Indra.The country

Production

William Sanchez-Vega

Last Posted: Jun 3, 2022 3:22:22 PM

Add internal note

He knows in depth all the sides of the coin.

subscribe

The public company pays 62.3 million to Corporación Financiera Alba to raise its position in the group chaired by Marc Murtra to 23.4%

The State Industrial Participation Society (SEPI), the industrial arm of the State, has acquired from Corporación Financiera Alba, the holding company of the March family, the 3.2% it held in Indra for 62.3 million euros, as reported the investment vehicle of the Marches to the National Securities and Markets Commission (CNMV). With this purchase, SEPI raises its position in the Spanish technology company to 23.8%, in which it announced that it aspired to control up to 28% of the capital.

“Alba Financial Corporation informs that it has sold to SEPI a total of 5,663,103 shares of Indra, representing 3.21% of its share capital, at a price of 11 euros per share, which represents a total amount of 62 .3 million euros and obtaining, in the current year, an accounting capital gain before taxes of 8.4 million euros”, the holding company explained to the stock market supervisor. “Alba, one of Indra’s main shareholders since 2009, completes with this sale the divestment of his stake in this Company”, he specifies.

Also Read  Marie Claire receives another 12 million euros of public aid | Valencian Community | The USA Print

The operation represents an important step for the transition that the company is undergoing after the departure of Fernando Abril-Martorell a year ago to replace Marc Murtra. Upon exceeding 23% of the capital, SEPI will be able to appoint a new member on Indra’s board of directors before the General Shareholders’ Meeting scheduled for June 23. In this way, Murtra will be able to strengthen his power and make some decisions that until now other members of the council had blocked.

The price of 11 euros per share represents a premium of 3% compared to the current price of the technology company. It is also 4% higher than the price of the 5% package that the Alba Financial Corporation sold six months ago to the Basque defense group Sapa. SEPI has authorization from the Government to reach a 28% stake in Indra and consolidate itself as its reference shareholder.

SEPI’s third director at Indra

In the event that the operation is closed before Tuesday, the public entity could add the appointment of a third director to the agenda of the shareholders’ meeting on June 23. SEPI began its purchases on April 9, when the share opened at 9.4 euros. Since then, and despite stock market uncertainties, the value of the share has grown by 13.2% to 10.6 euros at which the titles are trading this Friday.

The SEPI recognized for the first time in the call for the shareholders’ meeting its willingness to add a third director in the Spanish technology company, who joins the former Minister of Industry, Miguel San Sebastián, and the former deputy Antonio Cuevas. In addition, at the shareholders’ meeting the mandate of some of the directors opposed to Murtra expires, which will facilitate the transition.

Also Read  Kellogg splits into three companies to accelerate growth | Economy | The USA Print

A little over a year ago, the entity promoted a change at the head of the company that led to the departure of Fernando Abril Martorell as executive president and the entry of Marc Murtra as his replacement. The council did not welcome the movement at the top and promoted a new governance model, limiting the executive powers of the president and establishing two CEOs, one for the defense part and the other for Minsait, the subsidiary that groups the digital business.

Since then, Murtra has tried to regain the power that his predecessor had in the company in order to reorganize the group and promote a new strategic plan that involves relaunching the defense division. The bicephaly in the company caused some friction that ended with the resignation of Cristina Ruiz, the CEO of Minsait, who alleged personal reasons. Ignacio Mataix, the head of the defense division, remains as CEO.

Also Read:

The labor crisis in the airline sector leads to a chaotic summer at airports | companies | The USA...
The current stock market crisis has already destroyed more value of the S&P 500 than the one of 2008...
The community of neighbors will be able to leave the defaulters without a pool and demand more inter...
Biden plans to suspend the federal gas tax to combat inflation | Economy | The USA Print
How is the tax on electricity companies in other European countries | companies | The USA Print
Spain: The Government only spent 2,400 million of European funds last year | Economy | The USA Pri...
Norway rubs its hands with the energy crisis: "There are times when it's not fun to make money, and ...
A week of gas cap: neither fiasco nor panacea | Economy | The USA Print
The richest 1% concentrates 17% of the national income | Economy | The USA Print
The unions demand that the CEOE return to the salary negotiation table: "If there is no agreement, t...
Kellogg splits into three companies to accelerate growth | Economy | The USA Print
The funds give Abengoa until Friday to save itself from bankruptcy | Economy | The USA Print
The CNMV will redouble surveillance on cryptocurrency advertising at sporting events | Economy | T...
Israel Arroyo leaves the post of Secretary of State for Social Security and Pensions | Economy | T...
Elon Musk says there are three issues to be resolved to close the purchase of Twitter | Economy | ...
Airef criticizes the Government for the lack of information on the execution of European funds | Ec...
El Corte Inglés repurchases half of the shares held by the Qatari investor Al Thani for 387 million ...
Montero cools off Yolanda Díaz's proposal and advances that the surcharge on electricity companies w...