EU: Alstom, Siemens offer Brussels merger concessions

EU: Alstom, Siemens offer Brussels merger concessions

French and German engineering giants Alstom and Siemens announced Wednesday, December 12, they had offered EU regulators concessions they believed would meet concerns over the planned merger of their railway businesses, reported Reuters. Germany’s Siemens and France’s Alstom agreed last year to merge their rail operations, creating a company with €15 billion (US$17 billion) in […]

EU: Siemens, Alstom not seeking merger hearing

EU: Siemens, Alstom not seeking merger hearing

Siemens and Alstom announced on Friday, November 16, they will not seek a hearing in front of European Union regulators to address antitrust concerns about their planned rail merger. The companies have the right to a formal hearing, but announced in a joint statement that they had submitted written answers in response to queries from […]

EU: Siemens, Alstom to face antitrust warning

EU: Siemens, Alstom to face antitrust warning

Siemens and Alstom will receive a warning this week from European Union antitrust regulators that their plan to create a Franco-German rail champion will hurt competition, reported Reuters. The European Commission, which opened a full-scale investigation into the deal in July, will send a statement of objections—or charge sheet—setting out its concerns about specific areas, […]

EU: Vestager wants opinions on Siemens, Alstom deal

EU: Vestager wants opinions on Siemens, Alstom deal

On Tuesday, October 9, Europe’s antitrust chief Margrethe Vestager said she wants to hear critics of Siemens and Alstom’s plan to create a Franco-German rail champion which is being investigated by the European Commission, reported Reuters. The Commission in July opened a probe, saying the deal—which could create a global leader with three times the market […]

EU: January 28 deadline set for Siemens, Alstom decision

EU: January 28 deadline set for Siemens, Alstom  decision

The European Commission has set a deadline of Jan. 28 to decide whether to approve the planned rail merger of Siemens and Alstom. The deadline was suspended early in August, but the Commission, which rules on mergers in the 28-country European Union, stated in an online filing issued on Friday that this suspension had ended […]

EU: Siemens, Alstom say rail merger still on track

EU: Siemens, Alstom say rail merger still on track

Siemens and Alstom stated they are confident their rail merger will proceed and be completed on time in 2019 despite objections raised by Australia’s Competition and Consumer Commission (ACCC) reported Reuters. Australia expressed concern on September 5 that the merger could lead to higher prices by lowering competition for heavy rail signaling projects in the […]

EU: Siemens-Alstom rail merger triggers investigation

EU: Siemens-Alstom rail merger triggers investigation

Siemens and Alstom’s plan to create a Franco-German rail champion could reduce competition and lead to higher fares for travelers, EU antitrust regulators said on Friday, July 13, as they opened a full-scale investigation into the deal. The deal, which would create a Franco-German rail champion competing with bigger rival CRRC and Canada’s Bombardier Transportation, […]

EU: Alstom signs US$3b agreement with GE to exit joint ventures

EU: Alstom signs US$3b agreement with GE to exit joint ventures

French manufacturing group Alstom said on Thursday, May 10, it had signed an agreement with General Electric to exit three joint ventures in return for a payment of €2.6 billion (US$3.1 billion), reported Bloomberg. Alstom said Thursday that it will exercise its options to exit the renewable energy, grid and nuclear businesses that were created as part […]

EU: German Siemens and French Alstom to complete rail merger this year

EU: German Siemens and French Alstom to complete rail merger this year

According to The National, Siemens, Europe’s largest industrial conglomerate, is set to complete the merger of its rail entity with Alstom by the close of the year. The post merger company looks to ramp up its presence in the sector in Saudi Arabia and the UAE. “We are now in the process of issuing a […]

Germany/France: Siemens signs rail merger with Alstom

Germany/France: Siemens signs rail merger with Alstom

Germany’s electronics giant Siemens and the maker of France’s high-speed TGV trains, Alstom, signed an agreement on Friday, March 23, that will see the creation of a European company to rival China’s market-leading state-owned rail giant. The accord sets the conditions for combining Alstom with Siemens Mobility, the German firm’s rail and infrastructure division. “We […]