Author: INDRA | EUROPAPRESS
The deadline for closing the sale will be two weeks.
Indra and the American fund Bain achieved a agreement principle so that the Spanish technology company, which has the Government as a reference partner, takes a prominent stake in the Basque ITP, manufacturer of aircraft engine components.
The final agreement is conditional Bain and Indra make an industrial pact this includes business synergies that companies can develop beyond mere financial equity participation. Both sides gave two weeks to close the sale and, if the operation is completed, it would achieve one of the goals set by CEO Pedro Sánchez to position Indra as the backbone of the defense industry in Spain.
Bain took over all the shares of ITP in September, after extensive negotiations with the British Rolls Royce. He paid 1,600 million euros for them and, in exchange for the approval of the operation by the Spanish government, agreed to allow the entry of national partners, in order to guarantee a stable core at the head of the airline.
Source: La Vozde Galicia
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
