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Hitachi offers to sell assets to win EU okay for Thales rail deal  – Reuters News Agency


Business & FinanceDeals

Reuters exclusively reported that Hitachi (6501.T) has offered to sell assets in France and Germany as well as its core train control technology to gain EU antitrust approval for its 1.7 billion euro ($1.8 billion) buy of Thales’ (TCFP.PA). GTS railway signalling business. The Japanese conglomerate put in its offer to the European Commission on Thursday, the same day it requested EU clearance for the deal, an EU regulatory filing showed on Friday. 

Market Impact

The Competition and Markets Authority (CMA) in August narrowed its concerns, saying the deal would not substantially lessen competition in the supply of communications-based train control signalling systems in the UK. A final report is due by Oct. 6. It had previously warned that the deal between two leading suppliers of signalling for mainline and urban railway networks could jack up the costs of upgrading Britain’s rail network. 

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Europe

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story



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