Talgo has confirmed to the National Securities Market Commission (CNMV) that it has received an approach from a Hungarian investment group to take control of the company, as La Información had reported this morning, which had placed emphasis on the interest of This group to acquire the participation of the Trilantic fund, which has been wanting to undo its position for some time.
The offer would be made at 5 euros per share, although Talgo points out that investors have not yet made a decision. “As far as the Company knows, there is no type of decision by said investor in relation to the possible takeover bid nor certainty that it will continue analyzing the operation,” it states in the relevant fact sent to the supervisor of the Spanish stock market. this morning. The CNMV has decided to suspend the company’s listing pending the publication of new data on the possible operation. Talgo closed on Wednesday at 3,915 euros.
Today, Trilantic controls Talgo indirectly through the company Pegaso Transportation International SCA, which owns 40.03% of the company’s capital. Outside of this company, the Torrente Blasco family manages another 5.03% of the capital through its investment firm Torrblas; The insurance company Santa Lucía reduced its participation in February to 2.86%, and the rest is in the hands of members of the Board of Directors and minority investors such as Amundi (2.05%), Santander Asset Management (1.86%) or Norges Bank (1%) . The float float (percentage of capital traded on the market) amounts to the remaining 51.47%.
Trilantic’s stake in Talgo is valued at around 200 million euros, out of a total market capitalization of 494 million. The construction company, which this week presented its results, has entered a new phase of expansion supported by important awards in Germany and Denmark, the entry into service of new trains for Renfe in Spain and the pre-awarding of a supply contract in Egypt.