Dec 09, 2022 17:23 JST

Source: Hitachi, Ltd.

Hitachi Rail provides an update on the schedule regarding the acquisition of Thales's Ground Transportation Systems business

TOKYO, Dec 09, 2022 - (JCN Newswire) - Hitachi Rail's planned acquisition of Thales' Ground Transportation Systems (GTS) business was announced in August 2021. Since that time, Hitachi Rail and Thales have been making steady progress towards securing the regulatory approvals necessary for the transaction to proceed, including achieving merger clearances in 9 out of the 13 required jurisdictions. Hitachi Rail is currently in discussion with the European Commission's Directorate-General for Competition (DG Competition) with a view to securing approval of the transaction in the EU.

On 9 December, the UK's Competition and Markets Authority (CMA) announced its intention to open a "Phase II" review of the transaction. The parties are reviewing the decision, but as a result it is now likely that the closing of the transaction will occur in the second half of 2023, instead of early 2023.

Hitachi Rail and Thales strongly believe in the competitive benefits of the transaction, which will deliver value for customers in the rail signalling and mobility sectors in the UK, Europe and globally. Despite being disappointed by impact of the CMA's decision on the timeline, Hitachi Rail remains committed to working with Thales and all regulatory bodies to ensure the successful close of the transaction as soon as possible.

Hitachi Rail

Hitachi Rail is a fully integrated, global provider of rail solutions across rolling stock, signalling, service & maintenance, digital technology and turnkey solutions. With a presence in 38 countries across three continents and over 12,000 employees, our mission is to contribute to society through the continuous development of superior rail transport solutions. Drawing on the wider Hitachi Group's market-leading technology and research-and-development capabilities, we strive for industry leading innovations and solutions that can deliver value for customers and sustainable railway systems that benefit wider society. For more information about Hitachi Rail, visit www.hitachirail.com

Source: Hitachi, Ltd.
Sectors: Transport & Logistics

Copyright ©2023 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


Hitachi Continuously Selected as CDP Supplier Engagement Leader
March 27 2023 17:52 JST
 
The Hitachi Group has started a strategic cooperation with the leading operator of non-cash payments Polskie ePlatnosci in the development of software and IT systems
March 23 2023 17:10 JST
 
Hitachi Astemo Hanshin Installs Photovoltaic Power Generation System
March 15 2023 20:57 JST
 
Hitachi Vantara Delivers Data-Driven Sustainability and Operational Transformation for Leading European Manufacturer
March 15 2023 20:22 JST
 
Hitachi Upgraded to "AA" in MSCI ESG Rating
March 09 2023 10:26 JST
 
Hitachi Energy launches the next-generation TXpert solution to digitalize every transformer
February 23 2023 08:19 JST
 
Reorganizing Hitachi High-Tech Solutions to Strengthen Capabilities for Solving Social Infrastructure Issues
February 16 2023 13:31 JST
 
Hitachi to Strengthen Business Structure to Accelerate Growth through Digital, Green, and Innovation
February 02 2023 13:19 JST
 
Two Hitachi Group Companies to Merge to Expand Robotic SI Business in Japan and ASEAN Countries
January 30 2023 10:08 JST
 
Kurita Water Industries and Hitachi Launch a Co-creation to Implement Solution in Society and Build an Ecosystem for a Sustainable Society with "Zero Environmental Impact"
January 26 2023 18:02 JST
 
More Press release >>

Latest Press Release


More Latest Release >>