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Alstom and Bombardier welcome the European Commission’s (EC) decision for conditional clearance of the proposed acquisition of Bombardier Transportation by Alstom.

The Commission’s approval for the transaction is conditional on the proposed engagements that consist of:

A transfer of Bombardier Transportation’s contribution to the V300 ZEFIRO very high-speed train and an offer of IP licence to Hitachi for the train co-developed by Hitachi and Bombardier Transportation for use in future very high-speed tenders in the UK
The divestment of the Alstom Coradia Polyvalent and the Reichshoffen production site in France
The divestment of the Bombardier TALENT 3 platform and dedicated production facilities located within the Hennigsdorf site in Germany
Providing access to certain interfaces and products for some of Bombardier Transportation’s Signalling On-Board Units and Train Control Management Systems (TCMS)

The divestitures will comply with all applicable social processes and consultations with employee representatives’ bodies.

The transaction remains subject to further regulatory approvals in several other jurisdictions and customary closing conditions.

Closing of the acquisition is expected for the first half of 2021.

PARIS, June 19 (Reuters) – Israel-based Elbit Systems on Wednesday said it would keep an eye out for possible acquisitions if the proposed merger of U.S. aerospace companies Raytheon Co and United Technologies Corp triggers certain divestments.

“We could have several opportunities coming from that kind of merger,” Ran Kril, executive vice president for International Marketing & Business Development, told Reuters at the Paris Airshow.

Kril said Elbit was committed to expanding in the United States, and would keep a close eye on any possible divestments ordered by U.S. authorities reviewing the proposed merger.

He said Elbit expected to wrap up the purchase of the night vision business of Harris Corp in the autumn. Antitrust authorities had ordered the sale of that business as a condition for approving Harris’s merger with L3 Technologies.

“We’ve decided to grow in America and after the Harris acquisition, we will always find opportunities to expand our portfolio and our presence in the U.S.,” Kril said.

(Reporting by Andrea Shalal, editing by Deepa Babington)

Tag: divestment

European Commission Clears Alstom’s acquisition of Bombardier Transportation

Elbit Eyes Acquisition Opportunities from Raytheon-UTC Deal

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