Amper Sells 32 Percent Stake in Teltronic Defense Division to Cofides for 50 Million Euros

✦ Meridian Analysis

Amper has signed an agreement under which Cofides, through its Fondo para Inversiones en el Exterior (FIEX), will inject €50 million into Amper Comunicaciones Críticas y Tácticas (Amper CCT) in exchange for a 32 % equity stake in the newly created division. The capital increase will fund Amper’s acquisition of Next Gen Critical Comms, the vehicle that holds 100 % of Teltronic, a specialist in security and defence communications. In the same transaction Amper will bring in Nazca, the former owner of Teltronic, with a roughly 7.75 % holding. The mechanics are a pure equity‑for‑cash stake sale: Cofides subscribes to newly issued shares of Amper CCT, thereby providing the cash needed for the Teltronic purchase while becoming a minority partner in the defence‑oriented business. No debt financing or bond issuance is disclosed, and the deal is already signed pending the formal closing of the Teltronic acquisition, which Amper expects in the next few days. Cofides already participates in Amper’s offshore‑wind and energy‑storage subsidiaries, Elinsa and Windwaves. Amper is also acquiring radar manufacturer Advanced Radar Technologies (ART) for an amount close to €45 million. What remains undisclosed are the valuation multiples applied to the 32 % stake, the identity of any financial advisers, and whether any debt component will accompany the equity injection. The filing with the CNMV suggests regulatory clearance is underway, but the precise timetable for the final closing of the Teltronic acquisition and any subsequent shareholder approvals has not been detailed. Monitoring Amper’s share‑price reaction and any further equity or debt financing terms will be essential for assessing the full impact of the deal.

The Meridian Weekly