JPMorgan buys a 10.6% stake in Spanish defence company Indra
Reuters
Published Nov 30, 2023 02:34AM ET
(Reuters) - JPMorgan bought a 10.6% stake in Spanish defence systems maker Indra, the stock market regulator said on Thursday.
Following the transaction, JPMorgan has become the second-largest shareholder after Spanish state holding company SEPI, which owns a 25.2% stake, according to data from LSEG.
The JPMorgan stake in Indra is worth about 268 million euros ($294.10 million) at market prices.
Last week Spanish aerospace company Escribano said it had increased its stake in the Spanish company to 8% from 3.4% as it intended to contribute to the development of its defence programmes.
Indra's strategic relevance has increased since Russia's invasion of Ukraine as Spain has promised to boost its defence spending as required by NATO in the coming years.
($1 = 0.9112 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.