| Notes |
The U.S. investment fund Third Point has acquired a stake in the Spanish defense company Indra and supports its chairman's plan to purchase the smaller rival Escribano Mechanical & Engineering, a market source familiar with the matter told Reuters on Monday.
An Indra spokesperson declined to comment on Third Point's acquisition, which was first reported by Bloomberg. The financial news agency based its report on a letter sent to Indra's board of directors and to the state group Sepi, which manages Madrid's 28% stake in the company.
The letter did not mention the size of the stake.
A Sepi spokesperson also declined to comment.
The potential acquisition of Escribano Mechanical & Engineering (EM&E), owned by Indra chairman Ángel Escribano and his brother Javier, has caused tension among some Indra shareholders concerned about potential conflicts of interest.
Third Point CEO Dan Loeb wrote in his letter to Indra and Sepi that he strongly supported the plan to acquire EM&E, viewing it as a unique opportunity to create a Spanish leader in the defense sector, Bloomberg reported.
(Reporting by Paolo Laudani and Victoria Waldersee, editing by Alexander Smith; Spanish editing by Tomás Cobos)
Reuters logo
© Reuters - 2026 |