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HATC SAMPLE EDITION:
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26th March, 2024
Ganz-Mávag may lose Talgo bid to Stadler
Majority shareholder Trilantic is negotiating to sell its 40% stake in Spanish train manufacturer Talgo to Swiss company Stadler Rail, which could emerge as a rival bidder to Hungary’s Ganz-Mávag, Spanish newspaper El Economista reported.
Ganz-Mávag made a €619 million bid on March 7 to purchase all Talgo shares.
However, Spanish Transport Minister Oscar Puente opposed the deal, saying the government would do everything possible to prevent the takeover.
Stadler is interested in Talgo, because Talgo could expand the Swiss company’s product range with high-speed and variable-gauge technology.
Under Spanish law, however, a buyer that wants to acquire more than 30% of a listed company must make an offer to buy all of the shares.
Ganz-Mavag Europe has submitted detailed information to the Spanish authorities about its bid for Talgo for foreign direct investment approval, the company said on Monday.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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