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Basque industry
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Talgo will hold a shareholders' meeting on December 12 to confirm the entry of the Basque consortium chaired by Sidenor

Shareholders will approve Sidenor's purchase of 29.77% of Talgo following the agreement reached on November 7 with Pegasus.

TALGO
Image of a Talgo train. Photo: Now

EITB

Updated

The railway manufacturer Talgo will hold an Extraordinary Shareholders Meeting  on December 12, as published in the Official State Gazette this Wednesday, at which Talgo's shareholders will approvethe purchase of 29.77% of Talgo  by Sidenor following the agreement reached on November 7 with Pegaso.

The company Sidenor , based in Basauri, is the leader in the production of special long steels, key in the automotive, rail and construction industries.

The extraordinary board in December will have to approve the company's new financing structure in order to carry out thefinal transfer of  shares, a transaction at a fixed price of EUR 4.25 per share (EUR 156.67 million).

founded in 1942 by Alavés engineer Alejandro Goicoechea and businessman José Luis Oriol, Talgo has become an international benchmark in the railway sector. Its technology, based on the articulation of wagons and natural inclination systems, has revolutionized rail transport, improving safety and energy efficiency.

Talgo gets the biggest 9.7 percent rise in the stock market after Sidenor bought 30 percent of the company.
Talgo and Sidenor, two colosses of the Basque industry.
Entrepreneurs Industry Autonomous Community of the Basque Country

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