Jainaga launches takeover bid for Azkoyen to build €400M industrial group

What's the deal? Basque entrepreneur José Antonio Jainaga has launched a voluntary takeover bid for 100% of Navarra-based AzkoyenDealroom has a profile for this one. Try Dealroom →. The offer is made through his vehicle Clerbil and industrial group Ohmnia Electronics.

What's the endgame? Jainaga wants to combine the businesses into a technology-industrial group with a European footprint. The merged entity would have combined revenue of close to €400 million.

The signal: The bid points to further consolidation among Spain's industrial and technology companies, as regional players seek scale to compete across Europe.

Read more: Gananzia