Industry The Prisa president's fund doubles its investment in Indra and becomes the second partner after the Government

The Amber fund directed by the president of the communication group Prisa

Industry The Prisa president's fund doubles its investment in Indra and becomes the second partner after the Government

The Amber fund directed by the president of the communication group Prisa. Joseph Ourghourlian, has informed the National Securities Market Commission (CNMV) that he has considerably increased his stake in Indra, considered a strategic company.

It now has 7.2% of the capital, double what it previously owned. In the CNMV it appears as 6.2% but we must add another 1% held by Amber Italia. This position makes it the second shareholder with the ability to influence Indra after the Government, which holds 25% of the capital. The Basque group Sapa is not attributed more than 5% in the CNMV and Indra.

The Government already authorized Amber last September to reach even more participation, up to 9%, considering Ourghourlian an ally. This was key in the 2022 shareholders' meeting to expel the independent directors who were uncomfortable for the Government, because they resisted the new president of Indra, Marc Murtra.

Amber will now take this step of doubling its share in a phase of slowing down the action after the appointment of the new CEO, José Vicente de los Mozos. Investors have received the latter coldly after receiving the vote against the only foreign member of the board of directors, the German Axel Arendt. He resigned immediately last Thursday for not considering the new top executive with the right profile, despite his high industrial experience at Renault.

Ourghourlian also makes a move after the irruption of a Spanish industrial group, Escribano, with 3% to reinforce the shareholding core that forms the Government. This financier of Armenian origin thus defends positions and maintains that Indra must undertake a company split in its strategic plan to focus on the defense area. Until now, Sepi has opposed this plan.

On the other hand, with her new stake, Amber exceeds the 7% that entitles her to appoint a member on the board of directors and she could claim it before next month's shareholders' meeting. If so, it would manage to break the current balance between proprietary and theoretically independent directors, which would alter the commitment with the CNMV on improving governance.

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