Spain's Sidenor in talks with Trilantic to buy stake in Talgo, El Confidencial says
12/11/2024 08:05
MADRID, Nov 12 (Reuters) - Basque steel maker Sidenor
has hired investment bank Alantra ALNTA.MC to buy up to a
29.9% stake in Spanish train maker Talgo TLGO.MC , news website
El Confidencial reported on Tuesday, citing several sources
close to the matter.
Sidenor would buy the stake from investment fund Trilantic,
which owns 40.2% of Talgo, El Confidencial said.
Spanish market rules force investors who buy 30% or more in
a listed company to make a public tender offer.
Sidenor, Alantra, Trilantic and Talgo did not immediately
respond to requests for comment.
The move comes three months after Hungarian consortium
Ganz-Mavag withdrew a tender offer for Talgo following the
Spanish government's opposition to the deal.
Last month, Sidenor told Talgo it was interested in buying
part or all of Talgo shares.
Privately owned Sidenor is headquartered in the Basque
Country and runs several steel mills in northern Spain.
(Reporting by Inti Landauro; Editing by Jan Harvey)
((Inti.Landauro@thomsonreuters.com;))