The Polish Development Fund Group, Polski Fundusz Rozwoju or PFR, He has confirmed his interest in Talgo today, as well as his intention to present a proposal in the next few days in the framework of the sales process that would bare a public acquisition offer for 100% of Talgo’s shares.
If the proposal were acceptedwould involve the launch of a public acquisition offer for 100% of the shares of the Spanish company.
PFR considers that a possible offer for Talgo would represent “An attractive European industrial consolidation project for the company and for Spain”, as the company has communicated the National Securities Market Commission, CNMV.
The firm sees Talgo as “An industrial company of great success, with a complementary portfolio and a unique technology that fits perfectly with that of Pesa”, The largest manufacturer of rolling material in Poland, owned by PFR.
It weighs specialized in locomotives, trams and regional and interregional vehicles, While Talgo is a leading company in design, manufacture and maintenance of high -speed trains.
“The complementary combination of the portfolios of both companies would result in a European leader with a wide range of products And experience in most European Union markets, “says the company.
As a shareholder potential, due to its “long -term and stable profile”, PFR plans “Create value for Talgo in the long term supporting growth and increasing the business scale, while maintaining the industrial capacity of the company and production in Spain.”
In the brief, PFR argues that “would also provide a solution of great value for the current needs of Talgo in relation to industrial capacity, With the immediate expansion of its production capacity, while maintaining the current workload of its factories in Spain. “
Likewise, the Polish company considers that it could help Talgo to “go to a broader market” Already expand to central and eastern Europe, where important investments in high speed are expected, especially in your country, Poland.
PFR has communicated to the CNMV that “Understands the importance of preserving Spanish of Talgo” and indicates that “it would be open to consider maintaining its headquarters and industrial capacity in Spain, as well as its status as a company quoted in Spanish bags”. In addition, he emphasizes that he is still open to cooperate with a potential minority Spanish coinversor and recognizes the relevance of the Basque roots of the company. Thus, “it will seek a fruitful collaboration with the community of the Basque Country after the possible transaction.”
PFR is a Polish financial and development institution, based in Warsaw. The Pesa Group, owned by PFR, is the largest manufacturer of rolling material in Poland and one of the main ones in the Central and Eastern European region. Use about 4,000 workers in their Bydgoszcz and Minsk Mazowiecki plants. Its rolling material is used in 11 countries in Europe and Asia, such as Poland, Romania, Czech Republic, Estonia and Bulgaria. Among its main clients are Deutsche Bahn, Polish National Railways, Treitalia or Eské Dáhy.
February 14
Yesterday, the Indian manufacturer of merchandise and passenger cars Jupiter Wagons also showed its intention to prepare an offer for Talgo, after the Basque Consortium headed by Sidenor confirmed on Thursday that improves its initial offer by the Spanish rail manufacturer until 4, 8 euros per share. It has not transcended how much is willing to pay the Indian company or how much Capital of Talgo they want to acquire.
On February 14, the deadline set by Trilantic, the shareholder interested in leaving Talgo and controls 29.77 % of the capital endsto receive offers for your shareholding package.
The Basque Consortium, composed of Clerbil (investment group of the owner of Sidenor, José Antonio Jainaga), Finkatuz, BBK Banking Foundation and Vital Banking Foundation, is willing to pay 177 million euros for that 29.77% of Talgo, according to the CNMV on Thursday.
Talgo’s sales process began more than a year ago, with the sample of interest and the subsequent launch of an OPA by the Ganz Mavag (Magyar Vagon) Hungarian group to control 100% of its capital for 620 million euros (5 euros per share) that was finally vetoed in August by the Spanish Executive for security reasons national.
Spain has defended from the beginning the entry of national investors in Talgo, to maintain the Spanish character of the company, Therefore, it supports Sidenor in its attempt to get 29.9% of the manufacturer in the hands of the Trilantic Fund that, however, resists accepting the price offered.
