Hungarian investors led by Garrigues law firm and Lazard bank have submitted a Public Acquisition Offer (OPA) to acquire Talgo’s shares, after announcing their intentions on March 7. Despite the government’s concerns about the hostile nature of the operation, the request has been made. The application is currently under review by the General Directorate of International Trade and Investments, which supervises operations like Talgo’s.
Talgo’s current delays in train delivery have prompted the need for a strategic partnership with capital and an industrial plan. The proposal includes the possibility of moving production to Hungary, leveraging the resources of the Magyar Wagon consortium. While initial positive reception from Talgo shareholders exists, concerns from the Hungarian government remain regarding the proposed takeover.
The Council of Ministers is not required to respond within a specific timeframe to the OPA request. The government may request more information or simply ignore the proposal. Ideological differences between Hungarian investors and Spanish government could potentially influence decision-making process.
Although there are reservations about taking over Talgo, underlying issues such as production delays remain unresolved. Finding a partner with both capital and an effective industrial plan is crucial for Talgo’s future success as a manufacturer.
