According to a regulatory document released on Thursday, J.P. Morgan, the largest bank in the US, has acquired a 10.6% stake in Spanish defense systems manufacturer Indra (Indra).
After the deal was completed, J.P. Morgan became Indra's second largest shareholder, after Spain's state-owned holding company SEPI, which holds 25.2% of the company's shares.
At current market prices, J.P. Morgan's shares in Indra are worth about 268 million euros (US$294 million).