Hitachi seeks EU okay for Thales deal with asset sales in France, Germany -September 18, 2023 at 05:03 pm EDT
BRUSSELS, Sept 18 (Reuters) – Hitachi has
offered to sell assets in France and Germany in a bid to address
EU antitrust concerns about its proposed 1.7 billion-euro ($1.8
billion) buy of Thales’ GTS railway signalling
business, a Hitachi spokesperson said on Monday.
The Japanese conglomerate submitted its remedy offer last
week to the European Commission, which is expected to seek
feedback from Hitachi customers and rivals before deciding
whether to accept the remedies or demand more.
“The proposed remedy includes the divestment of our mainline
signalling business in France and Germany,” the spokesperson
said, confirming a Reuters story published last week.
The EU antitrust enforcer has set a Nov. 6 deadline for its
decision.
The offer to the EU is similar to that offered to the UK
competition agency which includes selling Hitachi Rail’s UK,
French and German mainline signalling business, a person with
direct knowledge of the matter had told Reuters.
Hitachi had also offered a behavioural remedy related to its
communications-based train control signalling systems. The UK
watchdog however subsequently dropped its concerns in this area.
($1 = 0.9355 euro)
(Reporting by Foo Yun Chee; editing by Jonathan Oatis and
Sonali Paul)
