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.
Business & FinanceDeals
Hitachi offers to sell assets to win EU okay for Thales rail deal
15 September 2023, 2:00 pm 1 minute
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
