Date of Post: 06 Nov, 2018
The deal to merge rail operations of French major Alstom and German firm Siemens has been approved the CCI (Competition Commission of India). Alstom is a global player in the world rail transport industry and is also engaged in the mobility business in India.
- The Siemens’ mobility business offers a broad portfolio of rail automation and signalling solutions, rail electrification systems, road traffic technology and IT solutions etc.
- The firm is already engaged in various business activities in India, including the mobility business.
- The fair trade regulator said in a tweet on Monday, “CCI_India approves the combination of Alstom and the mobility business of Siemens.”
- The joint notice submitted to the CCI by the two firms said,”This filing concerns the strategic combination of Alstom and the mobility business of Siemens, the ultimate parent of the Siemens group of companies, by way of a contribution of Siemens’ mobility business to Alstom in consideration for newly issued Alstom shares (the proposed transaction).”
- The transaction broadly concerns the Indian mobility sector, which relates to the supply of solutions, services and products to owners or operators of rail networks including signalling systems and rail electrification solutions for the transportation of passengers and freight, according to the notice
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