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Spain: CNMC clears €305 million euro takeover of Tecnocom by Indra

 |  January 17, 2017

Spanish competition regulator CNMC has authorised the takeover bid presented by Indra for 100% of its rival Tecnocom, with a calculatedvalue of €305 million.

The approval of the CNMC fulfils one of Indra’s previous commitments to Tecnocom shareholders, as the company was charged with securing the necessary approval from regulators before the deal could be finalized.

Indra’s takeover, announced at the end of November, would see the company absorb the entirety of Tecnocom’s assets, excluding treasury stocks, at a price of €4.25 per share. The company has secured deals with Tecnocom’s shareholders controlling a decisive 52.7% of capital assets.
Full Content: El Economista

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