Talgo Reaches $15 Mln Compensation Agreement With LACMTA

June 18 (Reuters) - Talgo SA TLGO.MC:

• SAID ON THURSDAY IT REACHED AN AGREEMENT WITH LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY (LACMTA) CONCLUDING LEGAL PROCEEDINGS BETWEEN BOTH PARTIES

• LACMTA AND INSURANCE COMPANIES WILL PAY TALGO ABOUT $15 MILLION IN COMPENSATION

• PROCEEDINGS WERE INITIATED AFTER LACMTA TERMINATED ITS CONTRACT WITH TALGO IN 2022

• AGREEMENT TO HAVE AN ESTIMATED IMPACT ON TALGO'S RESULTS OF ABOUT $6 MLN POSITIVE IN CASH AND $8 MLN NEGATIVE IN EARNINGS