Jupiter Wagons Aims for Over 30% Stake in Talgo with Higher Bid

Jupiter Wagons, a leading Indian group, prepares to acquire over 30% of Talgo shares. The company’s strategy includes outbidding its main competitor, Sidenor Group, to secure ownership. This was reported by the railway transport news portal Railway Supply.

Jupiter Wagons Targets Talgo Amid Fierce Competition

Jupiter Wagons has hired Lazard and Eversheds Sutherland as advisors to strengthen its takeover bid. The company plans to offer a higher price than Sidenor Group’s €4 per share limit. Talgo’s shares rose by 1.73% last Friday, reflecting market optimism about Jupiter Wagons’ offer.

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Sidenor Group, seeking to secure 29.9% of Talgo’s shares, remains a key competitor. However, its capped offer may limit its ability to outmaneuver Jupiter Wagons. Meanwhile, Polish railway company Pesa has entered the fray, hiring Société Générale and Baker McKenzie as advisors. This intensifies the competition, with all players vying for control of Talgo’s future.

Jupiter Wagons and Pesa Eye Pegaso’s 40.2% Stake

Jupiter Wagons and Pesa both target Pegaso’s 40.2% ownership of Talgo shares. Pegaso, comprising Trilantic, the Abelló family, and Oriol family members, plays a central role in Talgo’s ownership. Pesa aims to secure an initial 29.5% stake with long-term plans to merge with Talgo, creating a stronger market position.

As the acquisition battle unfolds, Talgo’s rising market value underscores its strategic importance. Analysts predict that Jupiter Wagons’ determination and financial strength may secure its position as a leading shareholder. However, Sidenor and Pesa remain key players, ensuring an intense competition for control.

This acquisition highlights the global demand for leadership in the railway sector. The strategic ambitions of Jupiter Wagons and its competitors could redefine the dynamics of this critical industry.

Source, photo: thecorner.eu

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