Talgo announces his departure to bag
Talgo has announced his intention to leave soon listed on stock exchange through an initial public offering of shares (IPO) by about 500 million euros, which would train manufacturer place in the market around 40% of its share capital, a percentage that will be made on the basis of the final valuation of the company.
the firm specializing in the manufacture of trains has already sent brochure of its IPO to the Commission national of the market of values (CNMV) to their corresponding operation that has the Santander, JP Morgan and Nomura international entities coordinating operation, and Rothschild as Advisor.
Currently Talgo is 100% owned by Pegasus Rail International, a holding that Trilantic Capital Partners has a 63% of the capital, the family of Oriol another 20.3% and the equity fund risk MCH Private Equity, the remaining 16.2%.
Stake in the manufacturer of trains is also present in the entrepreneur Juan Abello, who a couple of years ago took a stake in the company indirectly, through an investment of such funds vehicle.
In a statement, Talgo President Carlos Oriol Palace, stressed the next departure to bag as a “very important step” in the history of more than seven decades of the company, which hopes to “strengthen its position for continued growth and future success”.
Announcing their exit bag, Talgo stressed that, thanks to the internationalization strategy developed since 2007, currently manages outside the greater part of their income, which totaled 384 million euros at end of 2014. Gross operating profit (Ebitda) stood at 90 million.
The company provides car travelers, trains AVE and very high-speed trains and, as indicated, is expanding its products to regional trains.
In 2012, presented the Avril, its able to train travel at a maximum speed of 380 km per hour and carry up to 600 passengers (see: Talgo presents the Avril, bird travel low-cost).
In terms of the international business, delivers and maintains train in seven countries (Portugal, France, Switzerland, Italy, United States, Kazakhstan and Uzbekistan, besides in Spain) and railway equipment to other 32.
One of the most outstanding achievements of this international expansion was the historic contract to supply 35 high-speed trains in 2011 which will circulate by the AVE Medina – Mecca, an order valued at about 1.6 billion euros and that it has an additional option of 23 trains more. The cmompania already delivered last December the first unit as it is established in the contract.
Talgo has a workforce of 1,735 employees, with two factories in Spain, in Las Matas (Madrid) and in Rivabellosa (Ãlava), and one more in Astana (Kazkahstan), in addition to offices in different countries of the world (United States and Germany) and sales offices in India Brazil, United Arab Emirates.