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Indra Secures Majority Stake in Tess Defence to Accelerate 8x8 Dragon Production

The June 13 acquisition gives Indra control over the consortium responsible for Spain’s next-generation artillery modernization program.

Archivo - Un vehículo blindado 8x8 Dragón desarrollado por el consorcio Tess Defence, controlado por Indra.
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Overview

  • Indra raised its ownership in Tess Defence by 26.34% to reach a 51% majority stake, with partners Sapa, Santa Bárbara and Escribano each retaining 16.33%.
  • Tess Defence oversees the VCR 8x8 Dragón project, a cornerstone for modernizing the Spanish army’s artillery capabilities.
  • Indra plans to leverage its controlling position to speed up assembly and delivery schedules for the 8x8 Dragon vehicle.
  • This strategic move aligns with Indra’s defense sector objectives and bolsters support for the Spanish Ministry of Defense’s modernization efforts.
  • The deal closure, communicated to the CNMV on June 13, empowers Indra to directly manage program development and industrial coordination.