The board of directors of Talgo has decided to start negotiations with Sidenor to analyze “a possible transaction”, which, as it has learned elEconomista.es It could involve the acquisition of close to 30% of the company’s share capital. The train manufacturer has stressed in its communication to the CNMV that it will safeguard the interests of society and its shareholders.
As he has been able to know elEconomista.esthe businessman José Antonio Jainaga has chosen to present its offer through the Basques steel company of which it owns instead of through its investment vehicle Mirai Investmentssince this is only a commercial brand launched under the umbrella of its patrimonial Clerbil SL. The claims of the Basque businessman, revealed last Monday by this means, They go through acquiring up to 29.9% of the capital of the railway industry to avoid having to launch a takeover bid, touching the 30% threshold set by the regulations that regulate this type of transactions.
The Basque businessman (Jainaga) thus joins as a new option to solve the industrial future of Talgo and would already be evaluating his possible entry into the company as an industrial partner. Sidenor, based in Basauri (Vizcaya), is dedicated to the production of special long steels, in addition to being a supplier of calibration products in the European market. It has production centers in the Basque Country, Cantabria and Catalonia, and has commercial delegations in Germany, France, Italy and the United Kingdom.
The search for an industrial partner is something that has been worked on in recent months in the Basque Country, where Talgo has a plant in Rivabellosa (Álava), with a staff of nearly 700 workers, not including temporary staff and auxiliary companies that work for the firm. Throughout Spain, the company has nearly 2,500 direct workers.
The Basque institutions themselves – the Basque Government and the Provincial Council of Álava – have confirmed that they are working in a coordinated manner to help in the search for a partner, with the aim of promoting a project that allows addressing the planned investments to guarantee, not only the continuity of Talgo, but also the requests to face in the future.
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