Thu, 06-Aug-2020
Friday 10 Jul 2020 , 12:57 pm

EU Regulators to Decide by July 31 on Alstom, Bombardier Deal

Alstom on Thursday offered to sell its Reichshoffen regional train factory in eastern France, its regional train unit Coradia Polyvalent, and a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany.
By SIN Bureau
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European Union antitrust regulators have set a new deadline of July 31 to rule on Alstom’s bid for Bombardier Inc’s transport business after the French TGV high-speed train maker offered to sell assets to address competition concerns.

Source: Official Facebook Page of Alstom

The European Commission, which posted the new deadline on its site on Friday, will now seek feedback from rivals and customers of both companies before deciding whether to accept the package or demand more in line with its procedures.

The EU competition enforcer could also open a four-month long investigation if it has serious doubts.

Alstom on Thursday offered to sell its Reichshoffen regional train factory in eastern France, its regional train unit Coradia Polyvalent, and a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany.

It also offered to provide access to some products within Bombardier’s train control systems and signalling units.

The proposed assets are equivalent to the size of a medium-sized player in Europe, people familiar with the matter said.

Alstom proposed its bid in February for Montreal-based Bombardier’s rail business and EU antitrust authorities were expected to demand concessions to approve the deal.

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Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

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