(Boursier.com) — Alstom today announces that it has reached an agreement with Knorr-Bremse AG for the sale of its conventional signaling business in North America for a purchase price of approximately 630 million euros.
This transaction is part of the global action plan that Alstom announced on November 15, 2023, aimed at strengthening its leading position in the rail industry. Alstom will provide details of its plan to maintain a strong and sustainable investment grade rating and its €2 billion deleveraging target at annual results on May 8, 2024.
“We are delighted to have signed this agreement which marks an important step in the implementation of our action plan. This sale is a testament to the work of our signage employees in North America, who have built and advanced this very successful activity over the last few years”, declared Henri Poupart-Lafarge, Chairman and CEO.
This transaction concerns the conventional part of the signaling activity in North America and the scope sold represented a turnover of approximately 300 million euros for the 2023/24 financial year.
Alstom will continue to serve the North American signaling market in different segments, notably with CBTC (Communications Based Train Control) and ETCS (European Train Control System) solutions.
Closing of the transaction is subject to customary conditions only, including regulatory approval, and is expected to take place as early as summer 2024.
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