Goldman Sachs exceeds 10% in Indra, valued at 1.026 million, amid FCAS setback

Goldman Sachs raises its stake in Indra above 10% amid the blocking of the European sixth-generation fighter jet project FCAS.

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The US investment bank Goldman Sachs has increased its stake in Indra to over 10%, with a holding valued at 1.026.4 million euros, according to information submitted to the National Securities Market Commission (CNMV).

The financial giant's position in the Spanish technology and defense company has gone from 8.223% to 10.575%, a level not seen since mid-April.

This stake is divided between 1.003% of voting rights directly linked to shares and an additional 9.572% channeled through financial instruments.

In total, the package amounts to 18,681,203 Indra shares. The shares closed Thursday's session at 54.94 euros per share, up 1.82%, placing the value of the stake at 1,026.39 million euros.

Goldman Sachs' reinforcement comes at a time marked by the latest news on the future European fighter jet project (FCAS or NGWS), in which Spanish defense companies have reiterated that they are in an "optimal" position to continue pushing the initiative.

The statement released on Thursday is signed by the defense and space division of Airbus, GMV, Oesía, Indra, ITP Aero, and Sener, the main Spanish defense and security companies.

"Together with the rest of the companies in the national and European ecosystem, we believe we are in an optimal position to continue driving the development or evolution of an NGWS, with the aim of bringing it into service around the year 2040," they stated, also emphasizing that they have the capabilities to design, develop, integrate, test, produce, maintain, and support operations under a "system of systems" concept.

FCAS project stalls after years of talks

Last Monday, it emerged that the European FCAS program to develop a sixth-generation fighter jet between Spain, Germany, and France has stalled after years of talks due to disagreements among the partners.

Sources from the German government indicate that Chancellor Friedrich Merz and French President Emmanuel Macron have concluded that the French conglomerate Dassault Aviation and the European manufacturer Airbus will not reach an agreement on the leadership of the program.

Merz has recommended to the French leader that he not move forward with this defense project, considered the most ambitious to date and launched in July 2017 by then-Chancellor Angela Merkel and by Macron.

However, the German Chancellor has shown himself to be in favor of continuing to advance in the development of a combat cloud.