Overview
- Clerbil, controlled by Sidenor chair José Antonio Jainaga, BBK, Vital and the Basque public fund Finkatuz agreed to acquire Trilantic’s 29.76% stake at €4.25 per share, according to a CNMV filing.
- The consortium’s stakes will be 8.5% each for Clerbil, Finkatuz and BBK, with Vital taking 4.24%.
- Talgo said the share transfer is subject to conditions precedent, including financing agreements with banks and Spain’s export credit insurer CESCE, to be satisfied by January 31, 2026.
- An extraordinary general meeting will be convened in the coming weeks to approve a new financing structure required for the transaction to complete.
- The agreement formalizes a principle accord first outlined in February and sets up a new phase for the Spanish train maker if the conditions are met.