The Minister of Transport, Óscar Puente, assures that the takeover bid for Talgo by the Hungarian consortium led by the Magyar Vagón group, which in the past had corporate links with Russian companies, enters the geopolitical scene, since TALGO’s movable axle patent is “critical” in areas such as the Baltic countries where the main concern is “military mobility”. “The context is not easy and Talgo has very sensitive material…. “It…
Ganz Mavag, the Hungarian consortium formed by state and private capital, today presented the prospectus of the takeover bid for 100% of Talgo at five euros per share with a maximum cost of €620 million. Talgo is currently trading at €4.3 per share. The Magyar investors remain committed to strengthening Talgo’s industrial capacity despite resistance from the Spanish government, which is reluctant to see the train manufacturer pass into the…
Renta 4| According to press reports, Renfe could have started the procedures to execute the €166 million sanction on Talgo for the delay in the delivery of 30 AVE trains. The latest news in this respect pointed to a first delivery of 10 trains from 8 April, 10 more by the end of the year, and the remaining 10 in 2025. Assessment: If the news is confirmed, it would have…
Renta 4: According to press reports, the private-equity fund Trilantic could be negotiating with Stadler the launch of a counter takeover bid on Talgo after the possible rejection of the takeover bid of Magyar Vagon by the government. Assessment: The news could be considered to be positive because it may open a door to the success of a takeover bid for Talgo, but it may be difficult for it to…
The Minister of Transport, Óscar Puente, yesterday revealed his intention to do “everything possible” to reject the Hungarian takeover bid for Talgo, and made it clear yesterday that the Government will play the ‘anti-opposition shield’ card to prevent the entry of the Hungarian group Magyar Vagon (Ganz-MaVag) in the train manufacturer Talgo as it doubts the origin of the funds that will finance the operation, valued at more than €600…
Renta 4| The Minister of Industry and Transport has confirmed that they consider Talgo to be strategic for Spain and are therefore studying in detail the conditions of Magyar Vagon’s takeover bid for the company. In this sense, they commented that this does not mean that the anti-takeover shield will be activated, but rather that the operation will be approved as long as there is full conviction that strategic control…
Hungarian consortium Ganz-MaVag Europe Zrt. (Magyar Vagon) confirmed on Friday that it is holding talks and negotiations for a possible takeover bid for 100% of Talgo (TLGO) at €5/share without an agreement having been reached yet. The talks focus on the financing of Talgo (TLGO) subject to change of control. As the National Securities Market Commission (CNMV) does not allow the offer to be made subject to the condition of…
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…
Link Securities | The railway manufacturer informed the National Securities Market Commission (CNMV) yesterday that, following the latest acquisitions reported yesterday, it has reached the maximum monetary amount established in the Buyback Programme, having invested €9,999,521.35 and acquired a total of 2,517,562 shares representing 1.99% of Talgo’s share capital. Thus, the company announces the completion of the Buyback Programme. Talgo is currently bidding for a contract from state-owned operator Deutsche…
Link Securities | The German government, through Deutsche Bahn (DB), has launched the largest train order in its history, with the aim of improving service quality, according to Expansión newspaper. Thus, it wants to sign a contract programme for up to 95 units of ICE high-speed trains, with a first order of 33 trains to be put into operation in 2030. In terms of volume, it is an investment budget…