Spanish group from Basque Country agrees to buy stake in Talgo (updated)
14/02/2025 15:46
(Adds provincial leader's quote, details of the deal in third
and fourth paragraphs)
MADRID, Feb 14 (Reuters) - A Spanish consortium from the
Basque Country, made up of shareholders in steel maker Sidenor,
the regional government and local lender Kutxabank, has reached
an agreement to buy a stake in train maker Talgo, local
authorities said on Friday.
"The return of the decision-making centre to our territory
means that we recover one of our industrial hallmarks," said
Ramiro Gonzalez, the head of the Alava province, one of the
Basque Country's three provinces.
No other details of the deal were immediately available
although
the consortium said last week
it offered up to 4.80 euros ($4.95) per Talgo share, though
part of that price - 0.65 euros - would be paid only if the
company meets financial targets in 2027 and 2028.
The total offer implies a maximum valuation of about 595
million euros for the entire company.
(Reporting by Inti Landauro, editing by Andrei Khalip)
((Inti.Landauro@thomsonreuters.com;))