Press release -
Hitachi Rail files merger notification with European Commission, as it seeks final clearance for Thales GTS acquisition
Hitachi Rail has refiled its merger notification with the European Commission, formally restarting the merger clearance process for the acquisition of Thales’s Ground Transportation Systems (GTS) in the European Union.
Hitachi Rail’s planned acquisition of Thales’s Ground Transportation Systems (GTS) business was announced in August 2021. Since that time, Hitachi Rail and Thales have been progressing towards completing the €1,660 million deal, securing the regulatory approvals necessary for the transaction to proceed, including achieving merger clearances in 11 of the 13 required jurisdictions. In November 2022, Hitachi Rail withdrew its EU filing after the Commission raised concerns over the potential impact of the merger on competition for mainline signalling projects in France and Germany. Hitachi has proposed to divest portions of its own signalling business to address the EC’s concerns.
Commenting on the refiling of the merger notification with the European Commission, a Hitachi Rail spokesperson, said: “We are delighted to be in a position to refile for clearance in the EU after working extensively with the Commission on a proposed divestment package which we are satisfied will address their concerns. We look forward to continuing to progress the acquisition of Thales’s Ground Transportation Systems (GTS), which we believe will deliver value for customers in the rail signalling and mobility sectors in Europe and globally.
Hitachi Rail also expects to receive a decision on the proposed transaction from the UK anti-trust authority, the Competition and Markets Authority (“CMA”) shortly.
ENDS
Notes to the Editor
For any media enquiries, please contact both Juliet Patterson on Juliet.Patterson@pagefield.co.uk or +44 7500867789 and Adam Love on Adam.Love@hitachirail.com or +1 (437) 234 4024
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About Hitachi Rail:
Hitachi Rail is connecting the future of mobility - helping every passenger, customer and community enjoy the benefits of more seamless, sustainable journeys. The company's pioneering technology enables more than 18bn passenger journeys and helps to transport millions of tonnes of freight every year.
As a trusted partner to operators around the world, Hitachi Rail delivers every part of the railway, from manufacturing and maintaining high speed bullet trains to digital signalling infrastructure and more.
Hitachi Rail is delivering value for its customers through Digital Transformation. The company's new Smart Mobility and Digital Asset Management solutions are cutting costs, carbon and congestion, while offering more choice and convenience to passengers than ever before.
Hitachi Rail is becoming a climate change innovator by innovating greener products with its customers - such as battery trains, and through its commitment to reduce its own CO2 emissions to net zero by 2030.
Hitachi Rail’s reach is global, but its business is local - with success built on investing in the people and communities that it serves. With over 14,000 employees in 38 countries, the company is growing and looking to recruit diverse talent now.
Find out about more by visiting hitachirail.com or hitachirail.com/careers/
