Siemens to acquire Alstom’s stake in Russia’s Transmashholding

GORKI, Moscow Region, Apr 28 (PRIME) -- The Russian government’s commission for foreign investment control approved a transfer of 33% in railway equipment maker Transmashholding from France’s Alstom to Germany’s Siemens, the Federal Antimonopoly Service’s Director Igor Artmyev told reporters on Saturday.

“The deal is about Siemens, the company is to buy (a stake) in strategically important plants like the Tver Carriage Works, Bryansk Engineering Plant, and Kolomensk Heavy Machinery Plant (which are parts of Transmashholding) that produce a large amount of our locomotives and diesel-powered plants,” Artemyev said.

“Siemens is to buy shares of Alstom and to replace them as a minority shareholder that has a blocking stake. In the end, German company Siemens will work with these plants instead of Alstom. This request was supported by the government’s commission.”

In September 2017, Alstom and Siemens decided to merge their railroad assets. Siemens Mobility was to be transferred to Alstom, while Siemens itself was to acquire 50% in Alstom. Artemyev said then that the antimonopoly service would study the deal in regards to merger of Russian assets of the companies.

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