Permission French government brings merger Siemens and Alstom closer
The French Ministry of Economy and Finance has given Siemens permission for foreign investments within the framework of the merger with train manufacturer Alstom. The Ministry can restrict or prohibit foreign investments in specified industries in France.
In addition, France’s financial markets regulator Autorité des Marchés Financiers (AMF) granted Siemens an exemption from the mandatory filing of a takeover offer for the remaining shares of the new company after completion of the deal.
Last year it was announced that the companies would merge their train divisions and would continue as Siemens Alstom. With the merger the train companies want to compete with the Chinese train constructor CRRC, that is bigger than Siemens, Alstom and Bombardier together.