Amber Capital, the British firm of investor Joseph Oughourlian, expands its position in Indra and already exceeds 5% of the capital. The fund, the main shareholder of PRISA, publisher of CincoDías, announced the last June that it had acquired 4.18% of the technology company and this Wednesday it informed the CNMV that its participation has already risen to 5.13%.
The movement occurs after it was learned that Amber had received authorization from the Spanish Government on the 13th to reach up to 9.99% of the company chaired by Marc Murtra. The operation would place the fund as Indra’s third shareholder after SEPI, which already has 28%, although it has not yet been reported to the CNMV, and Fidelity, which controls around 11% of the firm through different instruments. The fourth would be the Basque defense company Sapa, which has 8%. If Amber reaches that almost 10% of the technology, it would mean an extra investment of about 80 million euros for the fund.
Amber’s escalation occurs at the same time that Indra renews its board of directors with the incorporation of new independent members. Indra’s Appointments, Remuneration and Corporate Governance Committee unanimously agreed this Tuesday to propose to the extraordinary shareholders’ meeting the appointment of five of the six new independent directors to reorder its board and put an end to the reputational crisis unleashed in the Spanish technology company after the last shareholders’ meeting, held in June, when four independent directors were dismissed and a fifth was not renewed with the support of SEPI, Sapa and Amber Capital.
After Felipe Fernández Atela, former president of Deutsche Telekom and president and CEO of AdeA, was left off the list due to possible incompatibility problems, Indra indicated that its appointments committee will continue analyzing the candidacies in the coming days “with the aim of concluding the selection process of the sixth independent director necessary to restore the balanced composition of the Board of Directors”.