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Alstom announced on Friday the sale of its conventional signaling business in North America, for around 630 million euros, as part of an agreement with the German group Knorr-Bremse AG.
The scope affected by the sale represents a turnover of around 300 million euros for the 2023-2024 financial year, the railway group indicated in a press release, specifying that it will continue to serve the North American market of signaling on different segments.
This transaction is part of Alstom’s global action plan which aims to reduce debt by 2 billion euros, and which will be developed on May 8.
According to the group, the proceeds from the sale, net of taxes and transaction costs, should amount to approximately 620 million euros and the closing should take place as early as summer 2024.
(Writing by Augustin Turpin, edited by Kate Entringer)