New attempt to stop this goes through SEPI
Before July ends The government must clarify its position on the takeover bid approved for processing 100% of Talgo capital. And prevent the Hungarian consortium Magyar carriage achieve your goal, The executive branch has just proposed a new alternative: SEPI will enter into the capital of the fleet manufacturer without counter-resistance.to block the operation. A proposal that comes after attempts (currently unsuccessful) with Criteria Bank, Staedler and CAF.
The government is running out of time and options for stopping a takeover bid launched in April by the Hungarian consortium Magyar Vagon and recognized by the National Securities and Markets Commission (CNMV). In this case, the executive branch could try an alternative, which involves the acquisition by the State Society for Industrial Participation (SEPI), together with third parties, of 29.9% of Talgo.
The government is committed in any way possible to stop the takeover of 100% of Talgo by Magyar Vagon. Source: CSIF
According to El Confidencial, this option is possible because Trilantic, owner of 40% of the Spanish train manufacturer together with the Oriol and Abello family, will sell this share in parts, which will make it easier to avoid a counter bid for the entire capital.
A formula that would include helping Trilantic find a buyer for the remaining 10%, which would mean repeating the scheme with control Indra. In addition, this will free up the investment of the Italian-Spanish fund, with which it has been in the capital of Talgo for almost twenty years.
A new chapter to stop the takeover
This new attempt will add to previous apparently unsuccessful ones with which the government tested both CriteriaCaixa and manufacturers CAF and Staedler.
It is not for nothing that Minister Oscar Puente emphasized several times suspicions about the manager because the Hungarian consortium, whose production capacity has been questioned, entered into the capital of Talgo because of the historical character that the company represents and because it has “crucial technologies that need to be protected,” according to Puente. In this regard, the minister emphasized that the railway manufacturer is part of a group of Spanish companies “that we transport all over the world.”
Related news:
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– Talgo increases revenue and order book thanks to full takeover offer
-Magyar Vagon: the viability of the Talgo takeover bid is up in the air
-Government opposes Hungarian takeover bid for Talgo
– Talgo listing suspended due to possible takeover bid
– Talgo Avril, produced in Spain, marks a milestone in the field of very high speeds.