Renta 4 | The Basque consortium formed by Sidenor, the Basque government and the BBK and Vital foundations has managed to raise the €75 million demanded by SEPI to finance half of the €150 million loan to be granted to Talgo, according to press reports.
Once SEPI’s requirements have been met, the Basque consortium is asking for the operation to be unblocked before 15 July so that it can formalise its entry into Talgo’s capital.
Assessment: We consider this to be positive news that could unblock the uncertainty surrounding Talgo’s shareholding structure and kick-start the new strategy the company needs to tackle the group’s high order book.
We reiterate our Under Review recommendation.
