Sidenor, in collaboration with BBK, Vital and the Basque Government through Finkatuz, has submitted an offer of 155 million euros to acquire Trilantic’s 29.9% stake in Talgo.
This proposal, which improves on the previous offer in November, faces competition from Poland’s Pesa and India’s Jupiter Wagons. Both, which have held recent meetings with Talgo, have until 14 February to submit a bid.
Santano confident that the sale of Talgo can be resolved within days
The joint bid is distributed as follows: Sidenor, the Basque Government and BBK would contribute 45 million each, while Vital would contribute 20 million.
The price per share could reach 4.80 euros, close to the 5 euros offered by Magyar Wagon and what Trilantic is asking for. This amount has a fixed part of 4.15 euros and a variable part of an additional 0.65 cents, subject to the business plan.
This initiative has the backing of the Basque institutions, which have worked to facilitate the search for an industrial partner. Talgo’s president, Carlos de Palacio Oriol, recently met with the Lehendakari Imanol Pradales, who expressed his confidence in an agreement to guarantee the company’s industrial future.
