Sidenor’s approach to Talgo has the support of Basque and Spanish governments and investors.
The Basque government is “ready” to help Sidenor buy Talgo if there are guarantees of employment and “rooting” in Euskadi. The Spanish government has also demonstrated its readiness to accompany and assist “in this transitional period.”
The possibility of Basque industrial group Sidenor acquiring a corresponding stake in train manufacturer Talgo has received support from the Basque and Spanish governments and investors.
Sidenor has expressed its intention to acquire part or all of the company’s capital after failing to complete the purchase of Magyar Vagon by the Hungarian group. Sidenor’s intention is to enter into the capital of Talgo, either by purchasing a part or even by acquiring the entire company.
Basque Minister of Industry Mikel JaureguiYesterday Thursday insisted that the Basque government supports Sidenor’s intention to enter the capital of Talgo if his roots in Euskadi are preserved and employment is secured, and said the priority now is to “work calmly and cautiously.”
Although this process is at a very early stage, the regional executive would be willing to assist in this operation, as long as it is “a solid project with an industrial future for Talgo, which will allow Talgo to take root in Euskadi and improve industrial activity.” Job.” .
“If these conditions are met, the Basque government will support the operation. The priority now is to work calmly and, above all, carefully,” he added.
Minister of Economy, Trade and Business, Carlos Bodiealso noted this Thursday the presence of proposals and interest from the private sector, as well as “effectively solvent, industrial and national companies” that are interested in Talgo.
While this is a process that must be led by the company and its shareholders, the government is willing to accompany and assist “in this transition,” according to Corpus Christi.
“It is important that proposals come from the private sector, from effectively solvent companies with a strong industrial and national character, as this is one of the great goals that we always set for our strategic companies such as Talgo to achieve to ensure long-term viability, and also the stability of the shareholding, which guarantees, among other things, the implementation of necessary investments in the future,” he noted.
Regarding marketsTalgo shares rose more than 5% on the stock market this Thursday, posting gains for three consecutive sessions. Its shares are up more than 15% in three days, although they are still down 12.6% this year.