Indra
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.
Spain's Supreme Court Contentious-Administrative Chamber has denied Santa Bárbara Sistemas' precautionary measure to suspend 3,000 million euros in state loans to the Indra and Escribano Mechanical & Engineering joint venture. The court finds no evidence of imminent and irreparable harm to General Dynamics' subsidiary. It emphasizes the significant public interest in national defense modernization.
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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.