The Polish State Fund PFR has put the cards on the table on Saturday. The entity has recognized its intention to make an offer to the Pegaso instruments, the first shareholder with 40%, which will mean the launch of an OPA for the entire capital. PFR explains that his intention is to create a “European champion of the railway industry”. And that would go through the subsequent integration of its manufacturer weighs with Talgo. Both companies cooperate since September in the development of a high -speed train, on the basis of the Avril de Talgo model, to go to the competitions that are tendered in Poland and the countries of its surroundings.
PFR has avoided venturing a price for Talgo, but claims to be open to its headquarters and stock market quotation being maintained in Spain. This development fund has indicated through a statement that its proposal will be presented in the next few days. The shareholder that leads Pegaso, the Trilantic Fund, has given the term until February for the different offers. In addition to PFR, India Jupiter Wagons has also approached Trilantic and the Basque Consortium formed by businessman José Antonio Jainaga (Sidenor), the BBK and Vital Banking Foundations, and the Finkatuz Public Fund has already presented an offer.
“The potential combination of complementary portfolios and the successful trajectory of Talgo and weighs would create a European champion with a wide range of products and experience in most EU markets,” explains PFR through a statement. This suitor of Talgo has not stopped the determined public support, both from the Central Government and the Basque Executive, to the offensive of Jainaga. The Polish state investor argues that its option offers greater industrial capacity, more financing and new commercial opportunities in high and very high speed trains for Talgo in the Central and Eastern European region, especially in Poland.
The Polish government, through its own prime minister, Donald Tusk, has strived to cover his attempt to become with the winning project for both Spain and Poland. This Saturday PFR says to understand “the importance, for Talgo and for Spain, to preserve its Spanishity”, so it is open “to consider maintaining its headquarters and its industrial capacity in Spain, as well as its status as a company quoted in the bags Spanish ”.
