Spanish fund Criteria to team up with Skoda in bid for Talgo, Cinco Dias says By Reuters

MADRID (Reuters) – Spain’s Criteria, the investment arm of the La Caixa foundation, is considering teaming up with Czech train maker Skoda in its bid for Talgo, Cinco Dias newspaper reported on Wednesday, citing unidentified sources close to the Skoda offer.

Spanish privately owned defence company Escribano may join the takeover attempt, Cinco Dias added.

On Tuesday, Spanish train maker Talgo said it received a “business combination and industrial merger” without any economic offer from Czech rival Skoda.

Criteria, Escribano, Skoda and Talgo did not immediately respond to requests for comment.

Skoda’s offer came four months after Hungarian consortium Ganz-Mavag launched a 619 million euro ($674.65 million) public tender offer for all Talgo shares. The consortium, which includes Hungarian state fund Corvinus, is offering 5 euros a share in cash.

($1 = 0.9175 euros)