JPMorgan Purchases a 10.6% Stake in Spanish Defense Company Indra

JPMorgan purchased a 10.6% stake in Spanish protection frameworks producer Indra, the securities exchange controller said on Thursday.

Following the exchange, JPMorgan has turned into the second-biggest investor after Spanish state holding organization SEPI, which possesses a 25.2% stake, as per information from LSEG.

The JPMorgan stake in Indra is worth around 268 million euros ($294.10 million) at market costs.

Last week Spanish aviation organization Escribano said it had expanded its stake in the Spanish organization to 8% from 3.4% as it expected to add to the advancement of its protection programs.

Indra’s essential significance has expanded since Russia’s attack on Ukraine as Spain has vowed to support its safeguard spending as expected by NATO before very long.