Hungarian company Magyar Vagon prepares €632 million takeover bid for Talgo


When it rose more than 9% on the stock market, the National Securities Market Commission (CNMV) yesterday suspended the listing of the Spanish train manufacturer controlled by Trilantic after four months waiting for the industrial investor, Magyar Vagon, linked to the Government of Viktor Orban, to launch the takeover bid for it.

The cash takeover bid for 100% of Talgo consists of a payment of €5 per share, which is equivalent to a valuation of €632 million. Talgo is trading at €4.7 per share, with a capitalization of €603 euros.

Talgo, with a turnover until June 2023 of €283 million and a profit of €7 million, has been analyzed by its rival CAF on several occasions, but the plan to create a national railway champion has never come to fruition.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.