Talgo faces a $122 million penalty from Renfe for delayed high-speed train deliveries, citing new justifications. The train manufacturer remains determined to challenge the fine through firm arguments. This was reported by the railway transport news portal Railway Supply.

Talgo
Source: www.xm.com

Talgo Prepares Legal Arguments Against Penalty

The penalty relates to delays in the delivery of 30 high-speed trains, initially scheduled for January 2021. Talgo attributed these delays to force majeure circumstances, specifically COVID-related disruptions. In July 2022, Renfe began evaluating penalties for these delays. Talgo has since stated it has developed strong legal grounds to contest Renfe’s claims.

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In a regulatory filing, Talgo confirmed receiving the payment order but emphasized its opposition to the fine. The company highlighted the unprecedented nature of the disruptions as justification for the delays, arguing against liability for external factors beyond its control.

Talgo Explores Acquisition Opportunities Amid Disputes

The penalty comes during a period of significant interest from investors, despite setbacks in acquisition negotiations. In August, Hungarian consortium Ganz-Mavag withdrew a €619 million offer following objections from the Spanish government. Talgo has since seen interest from other potential buyers, including Sidenor, which initiated talks in October about acquiring a stake.

Talgo remains committed to resolving the dispute with Renfe while exploring strategic growth opportunities. The company’s ability to balance legal challenges with acquisition prospects highlights its resilience in navigating complex market conditions.

Source: www.xm.com

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