SEPI
Escribano brothers sell their 14.3% stake in Indra and exit the company
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Brothers Ángel and Javier Escribano sold their 14.3% stake in Indra through an accelerated placement, valued at over 1.3 billion euros. The deal, announced on May 5, 2026, ends three years of shareholding after a conflict with the Spanish Government. Javier Escribano resigned as company director.
Ángel Escribano resigned on Wednesday as executive president and board member of Indra, citing government pressures and personal weariness. SEPI, the largest shareholder with 28% of the capital, proposed Ángel Simón as replacement. The board has started the succession process led by Virginia Arce.
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Spain's state-owned SEPI has expressed concern to Indra over the conflict of interest in acquiring Escribano Mechanical & Engineering (EM&E), owned by president Ángel Escribano, whose brother Javier leads it and sits on Indra's board. SEPI demands the conflict be resolved before proceeding with the analysis. The announcement follows rumors that caused a 4.19% stock drop on Tuesday.