Alstom and Siemens have jointly agreed to submit a remedy package on December 12 to the European Commission in response to its Statement of Objection of October 29. This package represents their proposal to address the Commission’s concerns while preserving the industrial and economic value of the deal.
The proposed remedies include mainly signaling activities as well as rolling stock products and represent around four percent of the sales of the combined entity. The parties consider that the proposed remedy package is appropriate and adequate. There is, however, no certainty that the content of this package will be sufficient to alleviate the concerns of the Commission. A decision by the Commission is expected by February 18, 2019.
Siemens and Alstom have signed a Memorandum of Understanding to combine Siemens’ mobility business, including its rail traction drives business, with Alstom. In a joint press conference the CEOs of the two companies, Joe Kaeser, Siemens AG (l.), and Henri Poupart-Lafarge from Alstom (r.), announced the creation of a European Champion in Mobility. With Siemens and Alstom two innovative players of the railway market join forces with comprehensive offering and a global presence.
