Mol Group and Corvinus-backed Ganz-Mavag Europe to acquire Talgo from Trilantic for €619.3m.

Mol Group and Corvinus-backed Ganz-Mavag Europe, a rail vehicle producer, agreed to acquire Talgo, a Spanish manufacturer of intercity, standard, and high-speed passenger trains from Trilantic, a global private equity firm, for €619.3m. Ganz-Mavag says it plans to help Talgo meet its orders and expand, while maintaining its headquarters in Spain. Part of the rationale for the deal is also to grow by meeting demand in Eastern Europe over the next decade, driven by the reconstruction of Ukraine, once it starts. On August 27, Spain has rejected a bid by Hungary’s Ganz-Mavag Europe to buy train maker Talgo.