Indra’s first operation during the De los Mozos era. The company has acquired 9.5% of ITP Aero for 175 million euros, a purchase that will be carried out in the coming weeks, as reported by the listed company to the National Securities Market Commission (CNMV).
Indra’s agreement with Bain Capital Private Equity, the fund that owns the Basque company specializing in the manufacture of aircraft engines, also includes that the company chaired by Marc Murta will have representation on the board of directors of ITP Aero.
According to the communication made to the CNMV, both companies “establish the bases for a strategic technological collaboration with the aim of enhancing their value, taking advantage of synergies and promoting the joint development of systems and technologies, including developments resulting from cooperation in the FCAS, the program of the future European aerial combat system, of which Indra is the national industrial leader”.
The new CEO of Indra, José Vicente de los Mozos, already announced a few weeks ago that his objective was to turn the company into a leading company in the Spanish defense industry. In other words, promote collaborations in the business field to be eligible for international competitions.
Acquiring a part of ITP Aero was an old aspiration of Indra. During the last months there were intense negotiations with Bain Capital, but the previous CEO of Indra cooled the operation. Now, however, the renewed board of directors of the company based in Alcobendas, Madrid, and its executive leadership promote this type of alliance.
