Wednesday, September 30, 2020

Bombardier acquisition gets green light

Bombardier’s deal with French company Alstom has received the green light.

Valued at more than six billion euros, the acquisition of Bombardier Transportation by Alstom is subject to EU conditions.

The combined Bombardier/Alstom business will create the world’s second largest train manufacturer, and preserves a joint bid with Hitachi for the £2.75bn contract to build new trains for HS2.

Daniel Desjardins, chairman of Bombardier Transportation, said: “The decision marks a positive step for the growth opportunities of the European rail sector, which is a world leader thanks to strong domestic competition and commitment to the next generation of green and digital mobility solutions.”

Executive vice-president of the European Commission, Margrethe Vestager, in charge of competition policy, said: “Alstom and Bombardier are leading providers of state-of-the-art trains used every day by millions of passengers across the European Union.

“Thanks to the comprehensive remedies offered to solve the competition concerns in the areas of very high-speed, mainline trains and mainline signalling, the commission has been able to speedily review and approve this transaction.”

Bombardier Transportation’s UK train-making factory is in Litchurch Lane, Derby.

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