Teh Basque institute of Finance (IVF) will sign a capital increase in Ekarpen society to provide it with sufficient liquidity to face the loan to Talgo that relieves the burden of its debt and guarantee the viability of the purchase in which it is immersed in the Basque Government with José Antonio Jainaga, president of Sidenor, the BBK and the vital. specifically, the company destined to channel investments in companies, will expand its capital by 75 million euros, of which 26,11 will be contributed by the Basque Institute of Finance and the rest by the other partners: Kutxabank Group (33.2 million of which 16.6 correspond to Kartera 1, owned by the bank and also participates in Ekarpen), Diputación de bizkaia (5.25 million euros) Gipuzkoa (3.25 million), Diputación de Álava (1.5 million), and Mondragon Investments (5.55 million).
This will be the new external consultation building of the Basurto Hospital in which 135 million will be invested.The Basque Government Council approved the participation of the IVF in the capital increase of Ekarpen for 26.11 million euros on July 22, and, a month later, on August 21, it was published in the BOPV. Now the Basque Government has contributed to Parliament the documentation that justifies the measure attending to a request from the EH Bildu parliamentarian, Lamia Nogales coffers.
50 million euros and the remaining 25 will contribute by BBK and vital, which participate in Operation Talgo.
In this documentation, which includes the diffrent reports that haSpecifically, this year Ekarpen has made investments for 12.5 million in several companies, including Multivize Computing, Herko or Lookiero. This investment joins the forecast of “not making disinversions until 2029”. This means that in 2024 Ekarpen “had 5.1 million euros in Treasury and 10.9 million euros in short -term financial investments, relative to investments in bonds and promissory notes”, which gave rise to a liquidity of approximately 16 million. “After the investments made in the first semester of 2025 per amount of 12.5 million, together with the ordinary expenses of the company, the liquidity position of Ekarpen to July 15, 2025 has been diminished to 5.7 million euros (2.9 million investments in bonds and promissory notes in the short term and 2.8 million euros of cash ascend to 5.3 million euros. ” That is, it lacked liquidity to address new projects.The memory indicates that there are “three new operations” with a joint value of 57 million euros within its investment opportunities. Of these, “two are expected to materialize in the coming months”, -one of them is expected to be Talgo-, but the “a liquidity position makes it impossible to execute the opportunities.” They point out, without specifically none, that these are investments that “present a special strategic relevance for Ekarpen members due to their high degree of roots and the economic impulse that would mean for Euskadi. These potential operations are the result of a strategic decision and well meditated by the management of the company, and responds directly to the detection of new critically important opportunities in the Basque market Advanced phase andEkarpen was established in 2008 as a public-private entity to “provide support to innovative sectors with strategic importance for the Basque Country.” Some of its most notable investments, through loans or capital participation, have been in CIE Automotive, Progenika, Kaiku, GGT-GGM, GLA, ARTECHE, and ARASUR. Now, it has been used to provide a loan to Talgo, financing part of their debt and guaranteeing the viability of the Basque Consortium’s involvement.