Escribano, a prominent Spanish defence and security technology company, has recently acquired an 8% stake in Indra, a leading technology company. This strategic move follows Escribano’s previous purchase of 3.4% of Indra’s shares in May, positioning itself as the second industrial partner of the company. Escribano has expressed its intentions to further expand its presence within Indra, solidifying its position in the defence sector in Spain.
The decision to increase its stake in Indra is strategic, as it will facilitate Escribano’s involvement in ongoing and future defence programs, both in international and domestic markets. This move aligns with the company’s recent investment of 20 million euros in establishing a new facility in Cordoba, dedicated to producing advanced technologies for smart ammunition and rocket launchers. This initiative is projected to create over 200 high-quality jobs, emphasizing Escribano’s commitment to contributing to the growth and development of the region.
The acquisition was advised by Linklaters, with Grupo Escribano receiving counsel from a team led by Paloma Fierro and Bárbara Victoria González Gutiérrez, and supported by Gonzalo Díaz Monreal and Macarena Sanz González. Additionally, Allen & Overy provided advisory services to JPMorgan in the sale of the securities to Escribano.
Escribano’s increased ownership in Indra signifies a significant development in the Spanish defence sector, with the potential to influence future innovations and advancements. As Escribano continues to strengthen its position within Indra, the collaboration is expected to yield positive outcomes for both entities, as well as contribute to the technological advancement of the defence industry.
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