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3d ago

Indra Confirms Exploration of Potential Merger with Escribano Mechanical & Engineering

The Spanish defense firm has engaged KPMG for due diligence, while Escribano denies being for sale and emphasizes its valuation exceeds €1 billion.

Indra cae un 4% en la bolsa española tras conocerse su posible integración con Escribano Mechanical
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Overview

  • Indra has officially informed the CNMV that it is studying a potential operation with Escribano Mechanical & Engineering as part of its strategic growth plan.
  • KPMG has been hired to conduct due diligence on the feasibility of a merger or acquisition, which remains in early exploratory stages with no board decision yet.
  • Escribano's president, Javier Escribano, insists the company is not for sale and values the business at over €1 billion, despite confirming preliminary talks with Indra.
  • Market reaction to the news has been cautious, with Indra's share price dropping nearly 4% intraday, reflecting investor concerns over governance and valuation.
  • The potential merger aligns with Indra's goal to create a national defense leader by integrating Escribano's precision-engineering capabilities into its operations.