The consortium formed by Clerbil (owned by José Antonio Jainaga), Finkatze Kapitala Finkatuz, the BBK Banking Foundation and the Vital Banking Foundation has signed a share purchase agreement with Pegaso Transportation International and other minority shareholders for 29.76% of Talgo’s share capital, equivalent to 36,864,848 shares.
The agreement, signed on 6 November, marks a major milestone in Trilantic’s exit from the manufacturer’s shareholder base. It is subject to the fulfilment of financial conditions before 31 January 2026, including commitments from Patentes Talgo, S.L., several banking institutions and the Spanish Export Credit Insurance Company (CESCE).
As a result of the deal, which was made public this morning by the CNMV, trading in Talgo shares has been suspended on the stock exchange.
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Each share has been valued at €4.25, bringing the total amount to €156.68 million. The contract also sets out a variable price supplement in the event that any of the buyers sell shares at a higher price within the following two years.
Pegaso is selling the lion’s share, 33.85 million shares, while the remaining minority holders are transferring 3 million. Among the buyers, Clerbil, Finkatze and BBK will each take an equal 8.5% stake, with Vital acquiring 4.24%.
The sellers have committed until 15 March 2026 not to acquire any further shares or exert influence on the company’s board.