RE: New news on ITP anyone ?29 Jun 2022 18:12
The operation of ITP Aero will go beyond June 30 and reactivates the entry of the Basque Government
The situation in Indra has been precisely what has postponed the authorization of the purchase of ITP Aero by Bain Capital from Rolls-Royce. Despite the fact that the parties expected the central Executive to authorize the purchase this past Monday, the 'ok' from Industry did not come. In fact, sources familiar with the process tell 'Crónica Vasca' that the operation is going to be extended beyond June 30. The initially planned deadline will not be fulfilled and it will now remain to be seen how the consortium that is made with the Basque engine manufacturer is completed.
The Minister Azpiazu -who is now leading the negotiation of the Basque Government for access to the shareholding of which a few days ago they were with a foot and a half outside- has affirmed this Tuesday that "progress is being made and the disposition by the parties is positive" so that Lakua gains access to the shareholding of the firm, an option that seems to have gained strength again after the controversy unleashed in Indra. This has even been slipped by the head of the Treasury himself, who, although he has not wanted to comment on Indra's situation, has admitted that he does not know "how the operation will be able to be closed [...] given the turbulence that is foreign to the Basque government".