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Skoda Group may compete for Talgo takeover

4 June 2024
Reading time ~ 1 min
A Talgo car
Passenger coach by Talgo. Source: railway-news
Belov Sergey, Editor-in-Chief, ROLLINGSTOCK Agency
Reading time ~ 1 min
Savenkova Ekaterina, Editorial Contributor to International Projects of ROLLINGSTOCK Agency

Spain: The Spanish business media El Economista reports that negotiations are underway as the investment foundation CriteriaCaixa plans to engage the Czech manufacturer as a potential manufacturing partner.

According to the media, Spanish authorities approved the involvement of Skoda Group under a bid from the La Caixa subsidiary in April, and the Transport Minister Oscar Puente held negotiations in Czechia in May. Neither Skoda Group nor CriteriaCaixa has issued any official statements.

All Talgo shares were put up for sale last autumn. The only offer, valued at €620 mln, was received from Hungarian Ganz-MaVag in a consortium with Corvinus, the Hungarian state foundation to support foreign investments. Furthermore, the Spanish National Securities Market Commission, CNMV, approved the acquisition, and Talgo’s shareholders, Trilantic and Torreal, support it. However, Oscar Puente has expressed his opposition to the deal.

While Skoda does not have production facilities in the country, another potential buyer, the Swiss company Stadler, does, but both lack competencies in the production of high-speed trains. In May, after many years of delay, the new generation of the Talgo Avril high-speed trains went into service. The new EMUs are the world’s first variable-gauge rolling stock capable of reaching 330 km/h.

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