Polish state fund hires Societe Generale for Talgo takeover, El Confidencial says

MADRID (Reuters) – Poland’s state fund has employed Societe Generale (OTC:SCGLY) to organize for a takeover bid of Spanish practice maker Talgo (BME:TLGO), information web site El Confidencial reported on Friday, citing unidentified sources near the matter.

Polish Growth Fund, or PFR, is contemplating launching a young supply for the shares in Talgo and would then merge the Spanish practice maker with its Polish rival Pesa Bydgoszcz, which it controls, El Confidencial reported.

PFR, Societe Generale and Talgo didn’t instantly reply to requests for remark.

Since Hungarian consortium Ganz-Mavag withdrew a 619- million-euro ($637 million) tender supply for Talgo in August following the Spanish authorities’s opposition to the deal, different potential consumers have approached the corporate.

Talgo stated in October Basque metal maker Sidenor opened talks in regards to the doable acquisition of a stake.

($1 = 0.9716 euros)