Amber Capital is doubling its position in Indra to 6.23% and is close to joining the board

Amber Capital has almost doubled its share in Indraputting it at 6.23%, a stake that brings the British investment fund founded by Joseph Oughourlian, Prisa’s largest shareholder, close to a seat on the Spanish technology and defense company’s board.

According to the information that Indra sent to the National Securities Market Commission (CNMV), after this last operation, the investment fund with a 3.236% stake in the company became the owner of 6.231%, which is equivalent to a package of shares of 11 million titles, whose current market value is around 130 million euros (with titles selling for around 11.78 euros).

In this way, Amber Capital borders on the possibility of entering the board of directors of Indra, which has a total of 14 seats. To do so, the UK fund would need to increase its position in Indra to at least 7.23%, a percentage from which it would be entitled to a seat on the company’s top decision-making body.

There is currently a vacancy on Indra’s board of directors and only 13 of the 14 available seats have been filled following the resignation of Axel Arendt, who made the decision on the same day the company decided to elect Jose Vicente de los Mozos to be the new CEO of the company in place of Ignacio Mataix.

In this context, it should be noted that last September the Government authorized Amber Capital to increase its stake in the capital of Indra to 9.9 percent of the company.

On the other hand, a Spanish company Notary recently acquired a 3% stake in Indra in a transaction valued at around EUR 65 million. In this regard, the company has expressed interest in acquiring 10% of Indra’s capital with the aim of joining its board of directors.

Indra will hold a regular shareholders’ meeting on June 30in which, among other things, it is expected to ratify the decision of its board of directors to appoint José Vicente de los Mozos as the company’s new CEO.