Kutxabank creates Indar to invest in the long term in companies, with an initial amount of 500 million

Kutxabank has launched Indar, a “vehicle” to invest in the long term in consolidated or growing companies, which has an initial capital investment spending of 500 million euros.

As reported by the Basque bank, the composition of Indar “responds to the will of Kutxabank to generate, promote and finance its position as a dynamic entity of economic and industrial substances and employment, to promote and finance strategic business initiatives.”

From Kutxabank they have specified that “Indar’s investment and investment strategy will lead to maintaining a diversified portfolio, investing in companies – not quoted or quoted – of the environment.” The goal will therefore be “tractor companies with a solid or immersed business model in growth and expansion projects” and will focus on “long-term investments that accompany them in creating value”.

The investments will be analyzed and carried out “under professional and market criteria”, so that it will be invested in “attractive” companies, both from the financial and the strategic point. Similarly, mant version options will be investigated in companies with shareholders and other investors.

Indar will have its own management structure, composed of a team of specialized professionals, that management autonomy will and will benefit from the means of Kutxabank. As he said, “Creating an investment vehicle with its own management team will facilitate the integration of investors in Indar, as well as their possible price in the future.”

The BBK, Kutxa Fundazioa and vital bank foundations, shareholders of Kutxabank, “have welcomed this investment vehicle, so also their historical commitment to support for business substances, now strengthened, by participation, with his founding in the investment eco system,” he said from the Banco Basque.

The General Meeting of Shareholders of Kutxabank has allowed the proposal that the Board of Directors of Kutxabank has been elevated to transfer IberDrola shares to the shareholders worth 400 million euros. The operation has the permission of the European Central Bank (ECB), as reported.

The aim of this operation is on the one hand to strengthen “the risk profile” of the bank by “adjusting the concentration of exposure to energy” and achieving “action margin to diversify its industrial portfolio”. On the other hand, an attempt is made to “maintain the maintenance of the current participation in Iberdrola, an entity with strong roots in Euskadi”.