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EU To Clear Alstom, Bombardier Deal With Conditions

By  |  July 27, 2020

EU antitrust regulators are set to approve Alstom’s Bombardier rail business after the French TGV high-speed train maker tweaked concessions aimed at allaying competition concerns about the deal, reported Reuters. 

Alstom earlier this month offered to sell a French rail factory, its regional train unit Coradia Polyvalent, and a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany. 

It also proposed providing access to some products within Bombardier’s train control systems and signalling units to rivals.

Alstom’s bid for Bombardier, announced in February, is worth up to €6.2 billion (US$7 billion). The French company wants to create the world’s No. 2 train manufacturer, to better compete with Chinese leader CRRC, in its second attempt at a deal, after the European Commission blocked its planned merger with Siemens last year.

Full Content: Reuters

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