The European Commission gave French engineering giant Alstom the green light to buy Canadian train-maker Bombardier Transport on Friday, a year-and-a-half after blocking a mega-merger … This is a conditional approval that requires Alstom to fully comply with the commitments it offered to the EC. Alstom's move comes a year after the European Commission blocked an attempt at a mega-merger of its rail activities with those of Germany's Siemens, which would have created a European rail champion. Merger deal of Alstom and Bombardier approved. Alstom expects the deal to close in the first half of next year. This time the French company is taking the initiative. As German business newspaper Handelsblatt reports: Alstom is set to acquire the entire Bombardier Transportation division. The companies say they now expect the transaction to close on Jan. 29, 2021. After the Siemens – Alstom merger failed to come into life, a new attempt is being made to create a stronger than ever European railway manufacturer. Alstom Signals Bombardier Rail Arm Losses to Affect Takeover By . Serbia signs MoU for Belgrade Metro railway-technology.com 09:34 25-Jan-21. “Overall, both Bombardier Transportation and Alstom generate about 60-65 per cent of their revenues from Europe. European Union antitrust regulators have set a deadline of July 16 for a decision of whether to approve Alstom’s bid for Bombardier Transportation. This is what we know so far. SKIP TO MAIN CONTENT Global News Home Alstom planned to transfer the contribution of Bombardier Transportation to the V300 ZEFIRO very high-speed train. In February, Alstom signed a Memorandum of Understanding on Bombardier Transportation acquisition with a price between EUR 5.8 billion and EUR 6.2 billion, which will be paid via a mix of cash and new Alstom shares. Disability inclusion priorities for Alstom Railway Gazette 09:56 22-Jan-21. Following the EU Merger Regulation, the Commission has approved the acquisition of Bombardier Transportation by Alstom. PARIS (dpa-AFX) - The French rail technology manufacturer Alstom and the train division of Bombardier (Bombardier B) have merged to become the world's Alstom completes mega merger with Bombardier train division | Forex-News … Furthermore, the merger risked making the merged an unavoidable supplier of legacy OBUs in the Netherlands. According to this source, the parties have held the preliminary talks in the past few months. ($1 = 0.9225 euros) (Reporting by Sarah Morland in Gdansk Editing by Tomasz Janowski) European railway manufacturers Siemens and Alstom announce merger, leaving Montreal-based Bombardier Transportation out in the cold. French rail giant Alstom SA is warning that problems at Bombardier's train division may affect negotiations to buy it, but says it still plans to go ahead with the takeover deal. Jan. 24 - Bombardier approaches Alstom and Japan's Hitachi as potential merger partners for its rail business. It has been reviewing for a month and a half. Bombardier has been working to transform itself from a maker of trains and […] Alstom, Bombardier Inc. and Caisse de dépôt et placement du Québec (CDPQ) have announced the signing of a Memorandum of Understanding (MoU) for Alstom’s acquisition of Bombardier Transportation.Following the transaction, Alstom will have a backlog of approximately €75 billion and revenues of approximately €15.5 billion. It will also divest Alstom Coradia Polyvalent, the Reichshoffen production site in France, the Bombardier TALENT 3 platform, and production facilities within the site in Hennigsdorf, Germany. The deal will be completed in the first half of 2021. Berlin-based Bombardier Transport last year posted sales of $8.3 billion, ending 2019 with $35.8 billion of business on its order books. A merger between France’s Alstom – an employee seen here on Oct. 4, 2019 – and Bombardier Transportation will face intense regulatory scrutiny in Brussels. PARIS/MONTREAL (Reuters) - Alstom's board will meet late on Wednesday to discuss buying Bombardier's rail unit, sources familiar with the matter said, … Alstom, China's Power Construction sign MOU on 4bn euros Serbia metro Nikkei Asian Review 14:21 22-Jan-21. Since the acquisition was announced in February 2020, discussions have been ongoing to determine how the merger of the two major rail manufacturing companies would satisfy EU merger laws.. Last month, Alstom proposed a range of measures to get … Alstom will pay up to 6.2 billion euros ($6.8 billion) in a mix of cash and shares, according to a memorandum of understanding between the firms.. Many market observers have long waited for this day with impatience: The European Commission has approved, under the EU Merger Regulation, the acquisition of Bombardier Transportation by Alstom on Friday, 31 July 2020. The European Commission has finally allowed Alstom to purchase Bombardier Transportation. Full text of Commission decision to conditionally approve Alstom/ Bombardier merger Thomson Reuters - Practical Law 15:49 25-Jan-21. The transaction was notified to the Commission on 11 June. ($1 = 0.9225 euros) (Reporting by Sarah Morland in Gdansk Editing by Tomasz Janowski) MONTREAL — Bombardier and Alstom say they have received all the necessary regulatory approvals required to complete the US$8.4-billion sale of the Canadian company’s railway division to Alstom. Published on 03-08-2020 at 12:23 . The European Commission (EC) has approved the acquisition of Bombardier Transportation by Alstom, subject to commitments made by Alstom. There already some first reactions from analysists such […] The approval is conditional on full compliance with a commitments package offered by Alstom. This time around, Alstom Chief Executive Henri Poupart-Lafarge is optimistic, and said Monday that the Bombardier deal was different than that failed Siemens merger and that regulatory hurdles were “not a huge issue.” “If there are some issues, they will much easier to solve than the one we had with Siemens,” he told Reuters news agency. Jan. 24 - Bombardier approaches Alstom and Japan’s Hitachi as potential merger partners for its rail business. However, both companies should fulfil some commitments. French train maker Alstom's board will meet on Wednesday evening to decide on a possible offer for the rail business of Canada's Bombardier, a source familiar with the situation told Reuters. 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