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'Milestones' reached in Siemens Alstom merger process

31 May 2018

INDUSTRY: At a meeting on May 30 the Alstom board approved the convening of shareholders’ meetings on May 17 where resolutions relating to the proposed merger with Siemens Mobility would be submitted for approval.

On May 28 France’s Ministry for Economy & Finance had granted Siemens foreign investment authorisation for the planned transaction, and the following day financial markets authority AMF granted Siemens an unconditional exemption from the mandatory filing of a tender offer following the completion of the contribution of its Mobility business.

Alstom said these authorisations were ‘key milestones’ in the merger process.