Wednesday 27 September 2017

Details of Alstom Siemens merger

Headlines from today's Alstom/Siemens merger announce.

  • Signed Memorandum of Understanding grants exclusivity to combine mobility businesses in a merger of equals
  • Listing in France and group headquarters in Paris area; led by Alstom CEO with 50 percent shares of the new entity owned by Siemens
  • Business headquarter for Mobility Solutions in Germany and for Rolling Stock in France
  • Comprehensive offering and global presence will offer best value to customers all over the world
  • Combined company’s revenue €15.3 billion, adjusted EBIT of €1.2 billion
  • Annual synergies of €470 million expected latest four years after closing
Details here.

All eyes now on Bombardier

UPDATE: Reuters has a good video primer on today's announcement here