Azkoyen takeover: Spanish regulator approves Ohmnia Electronics bid

Spain’s National Commission on Markets and Competition (CNMC) has authorized a voluntary tender offer by Ohmnia Electronics to acquire the Navarrese company Azkoyen. The bid is led by businessman José Antonio Jainaga, who also serves as the president of Talgo.

Ohmnia Electronics, a consortium involving the Basque Government through the fund Finkatuz, has proposed a total value of approximately 244 million euros for Azkoyen, offering 10 euros per share in cash. The success of the operation is contingent upon the acceptance of more than 50% of Azkoyen’s capital.

The regulatory approval follows a similar green light from the German competition authority, Bundeskartellamt, which is significant given that a large portion of Azkoyen’s business is conducted in Germany. The transaction is described as a friendly takeover by Azkoyen’s board of directors.