ALSTOM SA: Alstom regrets European Commission's prohibition decision for the merger of its business with Siemens Mobility
06 Février 2019 - 1:02PM
Alstom regrets
European Commission's prohibition decision for the merger of its
business with Siemens Mobility
6 February
2019 - The European Commission (EC) has announced today its
decision to prohibit the proposed merger of the Siemens and Alstom
mobility businesses. As a result of this prohibition, the merger
will not proceed.
Alstom regrets that the remedies
offered, including recent improvements, have been considered
insufficient by the Commission. The remedies were extensive in
scope and addressed all the concerns raised by the Commission in
respect of Signaling or Very High Speed trains. In addition, a
number of credible and well-established European players expressed
strong interest for the remedy package, thereby fully confirming
its viability.
This is a clear set-back for
Industry in Europe. Alstom, together with Siemens, is convinced
that the transaction would have created substantial value for the
global mobility sector, the European railway industry, customers,
travelers and commuters, without harming European competition. It
would also have allowed the creation of a European player having
the ability to cope with the growing competition from non-EU
companies.
The Board of Directors has
unanimously thanked Alstom's team for its outstanding management of
this project and has highlighted the company's very strong
performance during this period.
Looking ahead, Alstom will focus
on pursuing its growth path as a global leader in the mobility
sector supported by excellent business fundamentals: a global
footprint, a record €40 billion backlog, sales constantly
outperforming market growth, and a very solid balance sheet. With a
successful 2020 Strategy that delivered results ahead of target,
Alstom remains today uniquely placed to offer customers and
ultimately passengers, competitive, clean, and innovative mobility
solutions. Alstom will now project itself into a new future
and define a strategic roadmap including appropriate capital
allocation.
About
Alstom
As a promoter of sustainable mobility, Alstom
develops and markets systems, equipment and services for the
transport sector. Alstom offers a complete range of solutions (from
high-speed trains to metros, tramways and e-buses), passenger
solutions, customised services (maintenance, modernisation),
infrastructure, signalling and digital mobility solutions. Alstom
is a world leader in integrated transport systems. The company
recorded sales of €7.3 billion and booked €7.2 billion of orders in
the 2017/18 fiscal year. Headquartered in France, Alstom is present
in over 60 countries and employs 34,500 people.
www.alstom.com
Press
contacts
Justine Rohée - Tel. + 33 1 57 06 18 81
justine.rohee@alstomgroup.com
Samuel Miller - Tel. + 33 1 57 06 67
74
samuel.miller@alstomgroup.com
Investor
relations
Julie Morel - Tel. + 33 6 67 61 88 58
julie.morel@alstomgroup.com
Julien Minot - Tel. + 33 1 57 06
64 84
Julien.minot@alstomgroup.com
PR Alstom announcement 6
February
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information contained therein.
Source: ALSTOM SA via Globenewswire
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