Battle of last minute offers For the acquisition of the Spanish Talgoin a week that ventures key to deciding who will finally be the buyer. And among the proposals that at least resemble the first of them – that is unauthorized by the Government of Pedro Sánchez … Of the Hungarian of Magyar Vagon, of 5 euros per action for 100% of the company – is that of the Polaca Pesa, owned by the State Financial Fund, Polish Development Fund (PFR) and that of India Jupiter Wagons, which They will be on the table before February 15, since the deadline is the same day 14. An offer that, as ABC has been able to know, not dislike “, much less the Spanish Executive”, and that the trains manufacturer itself itself of Poland considers more appropriate and propitious for the Spanish than that of Sidenor, who does not believe that he solves the viability problem of the business for which he has been forced to sell.
In A clear nod to the government That he wants to guarantee the Spanishity of Talgo, the Poles say that, in addition to being optimistic about their good harmony that they warned in their meeting a week ago with the president, Pedro Sánchez, they are open to letting a “Spanish minority coinversor in which they It seems appropriate to meet that condition.
Yesterday, PESA made its interest official and, in a statement to the National Securities Market Commission (CNMV), affirmed that “it manifests its intention to present a proposal in the next few days, within the framework of the sale process organized by Pegaso Transportation International (“Pegaso”) that, subject to different conditions and in case it was ultimately accepted by Pegasus, would lead to the formulation of a public offering offer for 100% of Talgo’s shares ».
The Polish alternative to Talgo also seems to convince the market. In fact, after the shy upward reaction last Thursday for the offer of Sidenor and its Basque partners, the action of the trains manufacturer yesterday closed yesterday at a price of 4.21 euros per share, 7.67% more than the session of the session of the session of the Friday. An offer of the Basque Consortium that although the owners of Talgo said that it was studied, it would be below their expectations: 155 million euros for the 29.7% that Trilantic possesses in Talgo. A figure that arises by estimating the price of the share at 4.80 euros, including a fixed part of 4.15 euros per title and a variable of 0.65 cents depending on the business plan.
However, beyond the price of the action that will offer around those at least 5 euros, PFR seeks to seduce the shareholders of Pegasus (Trilantic, Torreal and the Oriol family) on the grounds that their movement would allow to create “an attractive project European industrial consolidation, both for the company and for Spain ». It also makes it clear that its intention is to become a stable shareholder already long term: «Create long -term value supporting growth and increasing the business scale, while maintaining the industrial capacity and production of the company in Spain».
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