Overview
- Clerbil, Finkatuz and Fundación BBK will each hold 8.5% of Talgo, with Fundación Bancaria Vital taking 4.24%, according to filings with the CNMV.
- The agreed price is €4.25 per share for 36,864,848 shares, totaling €156,675,604, transferring the stake previously held by Pegasus/Trilantic.
- Talgo will convene an extraordinary general meeting to vote on the new financing architecture needed to execute the transfer of shares.
- Talgo’s refinancing remains pressing, with debt reported above €400 million, a €116 million Renfe penalty, and banks calling for a €150 million capital injection to maintain credit lines.
- State investor SEPI is not part of this share purchase despite prior authorization to invest, and a legal probe of consortium leader José Antonio Jainaga has introduced additional uncertainty.