Talgo S.A. (ES:TLGO) has released an update.
Spanish train manufacturer Talgo S.A. faces a setback as the Spanish Government has blocked a foreign direct investment bid by the European consortium Ganz-MaVag Europe Zrt., which sought to acquire 100% of Talgo’s shares. Ganz-MaVag, deeming the decision unjustified and detrimental to their interests, plans to launch legal actions, including an appeal to the Supreme Court against the Spanish Government’s decision. However, due to the decision’s impact on the investment’s timeline and associated costs, Ganz-MaVag has notified the Spanish Securities Market Commission of its withdrawal from the takeover bid.
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