Exclusive-Hitachi set to win EU okay for $1.8 billion Thales deal, sources say
10:56 am Thursday, October 19th, 2023
By Foo Yun Chee
BRUSSELS (Reuters) – Hitachi is set to win EU antitrust approval for its 1.7-billion-euro ($1.8 billion) acquisition of Thales’ GTS railway signalling business on the condition it sells assets in France and Germany, three people familiar with the matter said on Thursday.
Hitachi submitted its offer to sell its mainline signalling business in France and Germany to the European Commission last month.
The EU competition watchdog and Hitachi declined to comment.
The watchdog is scheduled to decide on the deal by Nov. 6.
The UK’s competition agency cleared the deal this month after Hitachi pledged to sell its mainline signalling business in the United Kingdom, France, and Germany.
The deal was first announced in August 2021.
($1 = 0.9478 euros)
(Reporting by Foo Yun Chee; editing by Mark Potter and Jason Neely)
