Spain's Alba buys 10 pct of Indra at 15 euros/shr

Thu Jul 2, 2009 3:11am EDT
 
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MADRID, July 2 (Reuters) - Spanish holding company Alba (ALB.MC) has bought a 10 percent stake in technology firm Indra (IDR.MC) from utility Union Fenosa (UNF.MC) at 15 euros per share, Alba and Fenosa said on Thursday,

Indra closed on Wednesday at 15.65 euros per share.

Fenosa said it would keep 5 percent of its 18 percent in Indra and had agreed to sell 10 percent to Alba.

The remaining 3 percent had been sold to institutions in a process managed by JP Morgan, it added.

Indra shares were suspended on Thursday. (Reporting by Jose Elias; Writing by Elisabeth O'Leary; Editing by Mike Nesbit)

 

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