The company has filed a statement with Spain’s National Securities Market Commission CNMV outlining its plan to purchase all of the manufacturer’s shares for €632 million (€5 per share), the news portal Railway Supply reports this, citing rollingstock.

Hungarian investors are considering the acquisition of the Spanish company Talgo
Picture: Talgo

It’s worth noting that the Ganz-MaVag business group operates a railcar plant in Dunakeszi, which in 2022 was transferred to Ganz-MaVag from ‘Transmashholding,’ a company under sanctions…

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Earlier, the Spanish publication El Confidencial reported, citing its sources, that the final stages of the offer preparation were underway.

It is noted that the companies Trilantic and Torreal, collectively owning 40% of Talgo’s shares, have already approved the deal.

However, according to Reuters, Ganz-MaVag (also known as Magyar Vagon) has not yet made a final decision as it discusses the financing methods for the potential deal.

Last Thursday, following El Confidencial’s report, Talgo’s shares rose nearly 10% in a day, prompting CNMV to suspend their listing.

Trading of Talgo shares resumed today, and a decline in their value was recorded due to the lack of guarantees of acquisition from Ganz-MaVag.

The plans for the purchase of Talgo by the Hungarian business group became known in November of last year.

Currently, the company continues to deliver passenger cars to Egypt under a contract signed in 2018 with TMH.

Talgo itself has a contract to supply 13 passenger trains to Egypt and is working on a project to establish production in the country.

The question remains open… Who actually wants to buy Talgo?

Photo: Jesús Andrade

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