March 2, 2021

The fund MCH Private Equity sells 9% of Talgo for 69.17 million and leaves its shareholding

The fund MCH Private Equity sells 9% of Talgo for 69.17 million and leaves its shareholding


The venture capital fund MCH Private Equity has sold its 9% stake which has Talgo as a shareholder in the amount of 69.17 million euros, at a rate of 5.61 euros per share, as reported by the placing entity UBS to the National Securities Market Commission (CNMV).

The price of the placement it has led to a discount of 8.3% Regarding the 6.12 euros that the train manufacturer closed yesterday. In particular, the fund has closed the sale after entrusting UBS with accelerated placement ("Accelerated bookbuilt offer") among qualified investors in the package of 12.33 million shares of Talgo with which it counted, equivalent to approximately a 9% share.

Historical investor

After the placement, MCH Private Equity leaves the capital of Talgo, where he was listed as a historical shareholder, which remained with the company after its IPO in May 2015. Currently, The first partner of Talgo, with 35% of the capital, is Pegaso Rail International, a 'holding' that, in turn, is 63% owned by Trilantic Capital Partners and by the Oriol family with 20.3%.

Among the other reference shareholders of the train manufacturer is Seguros Santalucía, which holds a 5% stake that he took in the middle of last year.

MCH places its 9% in Talgo coinciding with the quotation maximums, above the level of 6 euros per share, which the company registers these days, with which it accumulates a revaluation of 14.8% so far this year. However, it is a price lower than 9.25 euros with which the company debuted on the stock market almost four years ago.

The fund comes out of the capital of the train manufacturer pending the "macro contract" for the supply of trains for the first line AVE from United Kingdom, which will link London and Birmingham, and the cascade of orders that Renfe plans to tender in the first half of this year.


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