RE: ITP5 Jun 2022 11:21
This is difficult as it's in Spanish; but it seems the original purchase was agreed with Bain, Sapa and JB. Sapa has acquired 28 percentage of Indra and Indra also wants a 15 percentage of the pie with the ITP buy. It seems that the deal will go through by the deadline of the 30th June as agreed and if Indra doesn't come up with the cash, they don't get a piece of the action. If they can't get the money before the 30th they could land at ITP Aero with a commitment and a partners agreement closed after the aforementioned date.. Indra is trying to be part of the purchase, but trying to get an extension for the money they owe. As long as the original buyers close on 30th June then all will be well. Bain capital is 70%, Sapa is 5% JB has 10%. It also seems that the Basque government want a piece of the action as well; around 6-7%. I'm guessing if Indra can't find the 15% it will come from somewhere else ??