Spanish Trainmaker Talgo Said to Consider IPO in 2015

Spanish train maker Patentes Talgo SA is considering an initial public offering that could value it at about about 1 billion euros ($1.2 billion), people with knowledge of the matter said.

Talgo, whose owners include private-equity firms Trilantic Capital Partners and Torreal SA, is working with financial advisory firm Rothschild as it explores an IPO that could take place in the first half of the year, the people said, asking not to be identified because the deliberations are private. The company has met with potential underwriters of the sale, the people said.

The IPO plans depend on market conditions and may change, the people said.

There are no formal plans or decisions made over a possible IPO, a spokeswoman for Talgo and Trilantic said. A representative for Rothschild declined to comment, while a spokesman for Torreal didn’t immediately respond to requests for comment.

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