talgo

talgos

Sidenor, Sepi, and Basque Government propose purchase of 40% of Talgo without launching takeover bid

The multi-faceted operation sponsored by the Government to replace the British fund Trilantic in Talgo’s shareholding is taking shape. This was confirmed by the company late yesterday, when it sent an announcement to the National Securities Market Commission (CNMV) informing of the receipt of a ‘manifestation of interest’ from the industrial group Sidenor, in which it expresses its intention to carry out ‘the total or partial acquisition of the share…


Talgo new

Basque steelmaker Sidenor considers entering Talgo with injection of funds from Mirai investment vehicle, and Basque Government as partner

Norbolsa | The president and owner of the Spanish steelmaker Sidenor, José Antonio Jainaga, is postulated as an industrial investor to take the entry in Talgo (as demanded by the Basque government). The operation would be carried out through the investment vehicle Mirai Investments, created in 2019 to acquire industrial businesses with a consolidated track record but that have the capacity for operational improvement, are undergoing transformation or have successions…


Talgo diferente

Basque Government negotiates with Spanish government to acquire stake in Talgo’s share capital

Link Securities | The Government of the Basque Country is negotiating with the Spanish Government its entry into the capital of Talgo (TLGO) to offer a financial solution to the company and safeguard its Spanishness, according to the newspaper elEconomista. However, the Basque government’s offer is subject, as with CriteriaCaixa, to the appearance of an industrial partner capable of offering space to increase production. Although talks are at a preliminary…


Talgo new

Talgo and Pesa group, Poland’s largest train manufacturer, sign strategic collaboration agreement

Link Securities | Talgo (TLGO) has taken advantage of the Innotrans trade fair in Berlin (Germany) to seal a strategic agreement with the Pesa group, Poland’s largest train manufacturer, according to Expansión newspaper. In the memorandum of understanding signed yesterday, both companies have agreed to carry out exploratory work to prepare future agreements along three main business lines: i) the tender process for the purchase of very high-speed rolling stock…


talgos

Talgo case, a story of a state hijacking

Aurelio Medel (5 Días) | The declaration of Talgo as a “strategic company within a key sector for the economic security, territorial cohesion and industrial development of Spain” is a trap for the company and constitutes a dangerous precedent for other companies, which can fall under the same qualification only with arguments contained in a report declared secret. The course of Talgo’s stock shows how the pompous label of strategic…


talgos

Government rejects Magyar Vagon’s takeover bid for Talgo on “national security” grounds

The Government has decided to reject the takeover bid for Talgo presented by the Hungarian group Ganz Mavag (Magyar Vagon) on the grounds of national security and strategic interests. This has been decided by the Foreign Investment Board of the Ministry of Economy, Trade and Enterprise, which has denied the operation presented by the consortium to take over the entire Spanish train manufacturer for €617 million. “Talgo is a strategic…


Talgo

Talgo could sell 20 high-speed trains to Saudi Arabia, adding around €700m to its order book

Banc Sabadell : The company’s CEO reportedly said that the company had intensified its contacts with the Medina – Mecca consortium with the aim of manufacturing and supplying 20 high-speed trains, according to press reports. According to these sources, the company and the consortium have not reached an agreement on the final price of the trains, since the costs have risen substantially from the €35 million per unit that had…


Talgo

Renfe to seek financial compensation from Talgo for “serious technical incidents”

Link Securities | Renfe has announced that it will ask Talgo (TLGO) for financial compensation for the “serious technical incidents” that the new Avril (S106) trains are experiencing after their debut last May on Spanish tracks and after accumulating years of delays in their delivery, as reported on Tuesday by Europa Press. Specifically, an Avlo train travelling from Valencia Joaquín Sorolla to Madrid Chamartín Clara Campoamor suffered a breakdown in…


Talgo building

Hungarian Ganz-MaVag consortium prepared to reserve part of Talgo’s capital for government-designated Spanish partner

Bankinter | The Hungarian consortium Ganz-MaVag is willing to reserve part of Talgo’s capital to a Spanish partner designated by the Government. With this proposal Ganz-MaVag hopes to overcome the Government’s reluctance to approve its takeover bid for Talgo. Between 9 and 10 August, the government must decide on the takeover bid, although the deadline may be extended by three months as more information has been requested. Analysis: This solution…


Talgo building

Pegaso International, consortium controlling 40.22% of Talgo, inclined to reject Skoda’s offer

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…