JPMorgan Takes Stake In Spanish Firm Indra: Report

Benzinga ·  11/30/2023 19:26

JPMorgan Chase & Co (NYSE:JPM) has reportedly acquired a 10.6% share in the Spanish defense systems manufacturer Indra. This acquisition places JPMorgan as the second-largest stakeholder in the company, closely following the Spanish state holding company SEPI, which holds a 25.2% share, reported Reuters. The value of JPMorgan's stake in Indra is estimated to be around €268 million ($294.10 million), as per the latest market prices, as per the report. Indra, known for its expertise in defense systems, has seen a surge in strategic significance following the geopolitical developments in Europe, especially after Russia invaded Ukraine. Spain has committed to increasing

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