Siemens and Alstom have set the next important step for a mobility champion. You have today entered into a Commercial Partnership Agreement (BCA) on the project to combine Siemens` mobility activities, including the rail propulsion activities with Alstom. This BCA follows the Memorandum of Understanding signed on 26 September 2017 and the completion of the necessary information and consultation process of the Works Council with Alstom on the proposed agreement. The BCA defines the terms agreed by the two companies. January 24 – As a potential merger partner for the rail business, Bombardier is moving to Alstom and Japan`s Hitachi. ($1 – EUR 0.9225) (Reporting by Sarah Morland in Gdansk Editorial: Tomasz Janowski) Siemens has already begun the process of connecting its mobility activities from other segments to facilitate the operation. In September 2017, Siemens and Alstom signed a Memorandum of Understanding for the merger of their mobility and rail transport activities. A business consolidation agreement followed in March 2018. The merger would have led to a listing in France, the group`s headquarters in Paris. The term “European champion” was used in the joint press release of Siemens and Alstom, which made it an important consideration for the merger. A similar argument was highlighted in interviews with key people from both companies, with Chinese rail company CRRC seen as a direct competitor in the European and global market. The closing is expected by the end of the 2018 calendar year.

The transaction is subject to the agreement of Alstom shareholders at the company`s general meeting, which is scheduled to take place in July 2018. The transaction is also subject to approval by the relevant regulatory authorities, including approval by the French Ministry of Economy and Finance of foreign investment and approval by antitrust authorities, as well as confirmation by the AMF that Siemens will not be required to launch a binding takeover bid after the closing of the contribution. Siemens has already launched the internal activities of its mobility activities and other related companies in order to prepare for Alstom`s combination.