Finance
Spain considering support for potential Sidenor bid for Talgo
Global Banking & Finance Review®
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MADRID (Reuters) -The Spanish government is considering
MADRID (Reuters) -The Spanish government is considering financial support for the partial or total purchase of train manufacturer Talgo by Basque steel maker Sidenor, Transport Minister Oscar Puente said.
“We are here to help Talgo on its path of seeking more industrial capacity and a new shareholder composition, which will also give it stability in the future,” Puente told reporters at a conference about mobility in Madrid on Tuesday.
The central government could participate in the bid through state holding company SEPI, the minister said, adding the regional Basque government could also chip in.
Last month, Sidenor said it was considering buying all or part of the train maker.
Hungarian consortium Ganz-Mavag earlier withdrew a tender offer for Talgo following the Spanish government’s opposition to the deal.
Spokespeople at Sidenor and SEPI declined to comment. The Basque regional government and Talgo did not immediately respond to requests for comment.
(Reporting by Javi West Larrañaga; editing by Inti Landauro and Jason Neely)
The Transportation Sector encompasses all modes of transport, including rail, road, air, and maritime, facilitating the movement of goods and people, and is crucial for economic development.
Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives, including decisions on resource allocation, market positioning, and competitive advantage.
Financial support refers to funds provided to individuals or organizations to help them achieve specific goals, such as purchasing assets, expanding operations, or stabilizing during economic challenges.
Investment opportunities are chances for individuals or organizations to invest capital in projects or assets with the expectation of generating a return, often involving various levels of risk.
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