Indra Sets Up Process to Address Conflicts in Deal With Chairman

Indra Sistemas SA has outlined the process through which a special board committee will address potential conflicts of interest as the Spanish company considers acquiring a firm owned by its chairman.

Any decision regarding the acquisition of Escribano Mechanical & Engineering SL will require a non-binding report or opinion by a committee of four independent directors set up last year, Indra said in a regulatory filing Friday.

The committee will ensure that any board members, advisers or others who could be affected by conflicts of interest “will abstain” from the decision making, according to the 12-page protocol outlined in the ...