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

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

EU antitrust regulators approved on Friday Alstom's bid for Bombardier Inc's rail business after the French TGV highspeed train maker agreed to sell assets to address competition concerns.

  • Reuters
  • Last Updated: July 31, 2020, 6:54 PM IST
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BRUSSELS EU antitrust regulators approved on Friday Alstom’s bid for Bombardier Inc’s 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 .

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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  • First Published: July 31, 2020, 6:54 PM IST
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