Bain Capital has, for the time being, associated two partners (JB and Sapa) – they have not specified the participation of each of these companies – but it is possible that more companies will be incorporated later on and that Eusko Ikaskuntza will also purchase part of the shares, as explained by the Berria journalist, Iker Aranburu. Bain Capital will retain at least 70% of the shares.

The intervention of the two partners of Bain Capital has facilitated the operation, as the company SAPA is active in the field of "defence" – as EITB has pointed out – as ITP – in the field of military aircraft. This is a strategic sector for the Spanish Government, and to the extent that the ITP sales operation needs the approval of Madrid, the presence of the SAPA has made things easier.

The company will continue in Zamudio

The Basque Government Minister for Environment and Economic Development, Arantxa Tapia, said that "the important thing" is that 30% of the non-funds have "decision-making capacity" if in five years the company decides to go to the Stock Exchange or U.S. funds. In an interview with Radio Euskadi, Tapia stated that the Basque Government is carrying out a "comprehensive analysis" of its possible participation in the Basque Parliament.

Precisely, in view of the doubts raised by the Basque Government last year, the owners of the company have said that ITP Aero will continue in Zamaudio and that the business project and employment will be maintained, with 1,500 workers in Euskal Herria. In addition, Carlos Alzola will remain in the position of director.

Labour disputes

Last September a total of 121 workers were dismissed from the Zamudio plant, while last May the TSJPV declared the other 87 complaints of ITP Aero Castings in Barakaldo and Sestao null and ordered the readmission of the workers null and void.