Talgo decides to start negotiations with Sidenor on “a possible transaction” after evaluating its proposal

The board of directors Talgo has decided to start talk with the industrial group Sidenor to analyze “a possible transaction”, which could involve the acquisition of part or all of the company’s share capital.

The train manufacturer reported this in the communication sent to the National Securities Market Commission this Monday, explaining that the decision was taken by the council “after evaluating the proposal submitted by Sidenor”.

In the note, Talgo emphasizes that it “will at all times ensure the interests of the company and its shareholdersLikewise, it adds that “as the negotiation process progresses, the market will be immediately informed of any relevant fact that needs to be communicated in accordance with current regulations.”

The railway company confirmed last week that it had received an expression of interest from the Sidenor industrial group to acquire all or part of the company’s capital, following rumors indicating the interest of Sidenor’s president, José Antonio Jainagabefore entering Talgo.

Talgo has a factory in Rivabellosa (Álava), with approximately 700 employees, excluding temporary and auxiliary personnel working for the company. In the Spanish state, the company has approximately 2,500 direct employees.

The Basque institutions themselves – the Basque Government and the Provincial Council of Álava – have confirmed that they are working in a coordinated manner to assist in the search for a partner, with the aim of promoting a project that will allow addressing the planned investments to guarantee not only the continuity of Talgo, but also the requests we will have to deal with in the future.