Tuesday, 11 Aug 2020

EU okays with conditions Alstom's buy of Bombardier's rail business

BRUSSELS (Reuters) – EU antitrust regulators approved on Friday Alstom’s (ALSO.PA) bid for Bombardier Inc’s (BBDb.TO) rail business after the French TGV high-speed train maker agreed to sell assets to address competition concerns.

The European Commission said Alstom will 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.

Reuters reported on July 27 that the concessions would help Alstom clinched EU clearance for a deal that would make it the world’s second largest rail maker behind Chinese rival CRRC Corp (601766.SS).

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