Published by Global Banking & Finance Review®
Posted on January 17, 2025
1 min readLast updated: January 27, 2026
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Poland's state fund plans a takeover bid for Talgo, hiring Societe Generale to facilitate the acquisition and potential merger with Pesa Bydgoszcz.
MADRID (Reuters) - Poland's state fund has hired Societe Generale to prepare for a takeover bid of Spanish train maker Talgo, news website El Confidencial reported on Friday, citing unidentified sources close to the matter.
Polish Development Fund, or PFR, is considering launching a tender offer for the shares in Talgo and would then merge the Spanish train maker with its Polish rival Pesa Bydgoszcz, which it controls, El Confidencial reported.
PFR, Societe Generale and Talgo did not immediately respond to requests for comment.
Since Hungarian consortium Ganz-Mavag withdrew a 619- million-euro ($637 million) tender offer for Talgo in August following the Spanish government's opposition to the deal, other potential buyers have approached the company.
Talgo said in October Basque steel maker Sidenor opened talks about the possible acquisition of a stake.
($1 = 0.9716 euros)
(Reporting by Inti Landauro; editing by David Evans)
The main topic is the Polish Development Fund's plan to acquire Spanish train maker Talgo with the help of Societe Generale.
The Polish Development Fund and Societe Generale are involved, with potential interest from Basque steel maker Sidenor.
The previous bid by a Hungarian consortium was withdrawn due to opposition from the Spanish government.
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