Link Securities | According to different sources consulted, the offer of the Czech company Skoda for Talgo meets with the doubts of the majority shareholders of the company, the newspaper elEconomista.es reported yesterday. Pegaso Internacional, the consortium that controls 40.22% of the railway company through the sum of the stakes of the Oriol family, the family office Torreal and the private equity firm Trilantic Capital Partners, is sceptical about the approach of the Czech company and is inclined to reject the partial offer to integrate both companies. In this spirit, the Spanish carmaker’s board of directors responded to Skoda Transportation’s letter last Monday night, asking it to provide more information on its approach, as the letter did not specify the financial and production capacity with which the new interested parties intend to compete with Hungary’s Magyar Vagon.
With regard to this same issue, the newspaper Expansión reports, according to sources close to the National Securities Market Commission (CNMV) and Spanish regulations, that the business integration offer that the Skoda group has made to Talgo must soon be translated into a takeover bid to improve the one launched in March by Magyar Vagon, through the Ganz Mavag consortium, and which is being processed by the CNMV. The newspaper points out that Skoda’s option is to wait until the government decides to veto Magyar Vagon’s takeover bid.
