Spain: The company has notified the Spanish stock market regulator CNMV of its plans to buy all the shares in the manufacturer for €632 mln, or €5 per share.
Earlier, the Spanish website El Confidencial reported that the proposal was in the final stages of preparation. Trilantic and Torreal, which together own 40% of Talgo, have reportedly agreed to the deal, while Reuters writes that Ganz-MaVag (Magyar Vagon) has not made a final decision, as it is discussing ways to finance a possible deal.
Last Thursday, the news from El Confidencial caused Talgo’s shares to rise by almost 10% during the day, forcing the CNMV to suspend its listing. Trading in Talgo shares resumed on 12 February, but the value of the shares fell as the potential buyer said no decision had been made.
Plans for the purchase of Talgo by a Hungarian business group became known in November last year. The business group operates the Dunakeszi plant, which was bought from TMH in 2022, and continues to supply passenger coaches to Egypt under a contract, which was signed by TMH in 2018. Talgo has also signed a contract to supply Egypt and is working on a project to set up a production plant there.
