Indra says Escribano M&E withdraws from potential acquisition

Indra Sistemas SA

19/03/2026 16:01

March 19 (Reuters) - Spanish defence company Indra IDR.MC on Thursday said that Escribano Mechanical and Engineering (EM&E) had withdrawn from a potential transaction between the companies.

The transaction had been a point of contention between state-owned fund SEPI, which owns a 28% stake in Indra, and Indra's chairman, Angel Escribano, who owns EM&E together with his brother Javier, who also sits on Indra's board.

SEPI had asked Indra on Wednesday to resolve the conflict of interest regarding the potential acquisition of EM&E before going further with the operation.

Earlier this week, Spanish news website El Confidencial reported that Spain's government had urged SEPI to dismiss Escribano over the dispute.

 (Reporting by Javi West Larrañaga; Editing by David Latona)

 ((Javier.West@thomsonreuters.com; +34 918 35 61 12;))