Amber Capital seeks to strengthen itself in Indra and has received the green light from the Government to do so. The fund chaired by Joseph Oughourlian, which currently controls 4.18% of the Spanish technology company, has received authorization from the Government to reach up to 9.99% of its share capital.
According to a relevant fact sent this Friday to the CNMV, the council of ministers approved the agreement authorizing “the joint foreign investment of the companies Amber Capital UK, LLP (United Kingdom) and Amber Capital Italia (Italy)”, in Indra. The authorization allows them to reach “jointly” a representative participation of 9.99% of their capital, which opens the way to reinforce the hard core.
The British fund Amber Capital, managed by Oughourlian, president of PRISA (publisher of Cinco Días and El País, among other media) entered the capital of Indra last June, with 4.18% of the technology company. The operation involved the purchase of a total of 7.38 million shares, with an investment of 75.69 million euros. The eventual new purchase, that would position him as a third shareholder, It would mean an extra investment of around 80 million euros for Amber.
The technology company’s leading shareholder will continue to be Sepi, which has confirmed to Five days holding 28% of the capital. The second would continue to be Fidelity, with 11%. If the increase in Amber’s stake to 9.99% materializes, the renewal of the board would be closer, to the extent that Amber and Sepi, together with the Basque company Sapa, which has 8% of the capital, voted to in favor of the dismissal of four independent directors and the non-renewal of a fifth. They could add up to 46% of the capital before the shareholders’ meeting, which must reconfigure the governing body and increase its number of members from eight to 14.
Precisely this Friday, Indra has communicated that the appointments committee It has a “short list” with six independent directors to replace those who left last June, a march that caused the share to fall.
The list of selected candidates is made up of Virginia Arce, partner in charge of the Technology, Telecommunications and Entertainment and Media sector at PwC Spain; Olga San Jacinto, expert advisor in the design of transformation strategies; Felipe Fernández, former president of Deutsche Telekom in Spain and president of AdeA; Coloma Armero, lawyer, former partner of Uría and director of Cemex Latamy Menéndez; Axel Arendt, former director of Rolls Royce, and Belén Amatriain, former director of Telefónica.
The group has said that “the final checks are being completed to ensure its suitability and independence.” After that, the Appointments Committee plans to meet next Monday to adopt, where appropriate, the corresponding appointment proposals that the Board would inform and submit to the General Meeting.
Both pieces of news have led Indra to rise on the stock market today. His shares grow this Friday above 3% to 8.22 euros. The capitalization of technology exceeds 1,452 million.
Sources familiar with the market assure that if Amber triggers her shareholding position in Indra and the appointment of the proposed independent directors is approved, the position of Ignacio Mataix, CEO of the technology, will be weakened.