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7/31, 3:55 PM (Source: TeleTrader)
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EU conditionally clears Alstom-Bombardier deal

Alstom SA and Bombardier Inc. said in a joint statement on Friday that they welcome the decision by the European Commission to conditionally approve Alstom's proposed acquisition of Bombardier Transportation, Canadian company's rail unit.

For the deal to receive full clearance, Alstom would have to sell its regional train business Coradia Polyvalent and the Reichshoffen plant in France, as well as the Bombardier commuter trains business and its output facilities in Hennigsdorf in Germany, along complying with a couple of other provisions.

The agreement, reportedly worth €6 billion, is expected to be finalized in the first six months of 2021.

Breaking the News / MS