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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Exclusive: Hitachi set to win EU okay for $1.8 bln Thales deal, sources say

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Picture... The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Picture taken September 10, 2020. REUTERS/Arnd Wiegmann/File Photo
The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Picture... The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Picture taken September 10, 2020. REUTERS/Arnd Wiegmann/File Photo

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According to three individuals with knowledge of the situation, Hitachi (6501.T) is likely to receive EU antitrust permission for its 1.7 billion euro ($1.8 billion) acquisition of Thales’ (TCFP.PA) GTS railway signaling business on the condition that it sells assets in France and Germany.

Last month, Hitachi presented the European Commission with a bid to sell its mainline signaling operations in Germany and France.

Both Hitachi and the EU competition watchdog declined to comment. The watchdog must decide by November 6 on the transaction. After Hitachi promised to sell its mainline signaling business in the United Kingdom, France, and Germany, the UK’s competition watchdog approved the deal this month.

The agreement was initially disclosed in August 2021. Promoting sustainability while fostering transportation innovation is one of the merger’s main objectives. These businesses seek to create environmentally responsible answers to the problems that face the world’s transportation networks.

In conclusion, the EU antitrust regulators approved the $18 billion Hitachi-Thales merger, a significant development for business and transportation. This combination offers financial benefits and technical developments that might completely change the business.

The world is watching with interest as Hitachi and Thales go forward with their ambitions to see how their collaboration will transform global transportation in the future.


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