More relevant shareholder movements in Indra ahead of the next general shareholders’ meeting in June, which will serve to ratify the appointment of the new CEO. The Amber Capital fund, led by the investor of Armenian origin Joseph Oughourlian, resumed purchases of titles in the Spanish semi-public company and exceeds 7.2% through its different vehicles. This represents more than two percentage points of increase and a million-dollar investment. This increase occurs in parallel to the irruption of the family defense company Escribano.
The Government had authorized, through the Council of Ministers, for Amber Capital to reach 10% -this ‘green light’ is necessary due to its strategic nature in defense matters-. And the company went up after the summer to stand at 5.13%. However, as La Información advanced in October, Moncloa wanted to calm the waters in Indra after months of turmoil after the departure of six of the seven independent directors. The president of the Executive, Pedro Sánchez, asked Amber for a kind of truce. And the fund stopped the purchasing plan.
Now I take it back. Specifically, as reflected in the notification made public this Tuesday before the National Securities Market Commission (CNMV), Amber’s position, through the different funds and vehicles with which it operates, has added 7.23 % by having in his possession 12.7 million shares. In other words, it has added some 3.7 million shares to its portfolio. This represents more than 42 million euros of investment in this second ‘wave’ of purchases.
This transaction that became effective this Monday, according to the documentation in the CNMV, places Amber Capital as the third shareholder only behind the State, through the State Company of Industrial Participations (Sepi), and Fidelity. The first exceeds 25% of the titles, while the second touches 10% through its different vehicles. It far exceeds the two industrial partners, Sapa and Escribano, which have 5% and 3% respectively.
Precisely this movement of Amber Capital is preceded by the one carried out by Escribano, the family company in the defense sector. It acquired securities worth more than 60 million euros several days ago to reach 3% of the titles. It did not do so through financial derivatives, as the Basque manufacturer Sapa did at the time. He announced his intention to reach 10%, but for this he had not yet obtained the formal authorization of the Council of Ministers. Now, the fund of the investor of Armenian origin is back on the scene.