A PYMNTS Company

Germany/France: Siemens signs rail merger with Alstom

By  |  March 25, 2018

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The accord sets the conditions for combining Alstom with Siemens Mobility, the German firm’s rail and infrastructure division.

    “We have reached an important milestone on the way to building a new leader capable of tackling the challenges of tomorrow’s mobility,” said Henri Poupart-Lafarge, the chief executive of Alstom, who will be the new company’s CEO.

    Siemens will control 50% of Alstom immediately but will be blocked from taking a bigger than 50.5% stake for the four coming years.

    Full Content: The Local

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.