Hitachi Rail and Mer Mec S.p.A. have signed a put option agreement for the sale of Hitachi Rail’s mainline signalling business in France, as well as its signalling business units in Germany and the UK.
In October 2023, the European Commission and the UK’s Competition and Markets Authority approved Hitachi Rail’s acquisition of Thales GTS, provided that Hitachi Rail divested its mainline signalling businesses in France, Germany and the UK. The put option agreement signed with Mer Mec is a step forwards in addressing the conditions set by the antitrust authorities for the closure of Hitachi Rail’s acquisition of Thales GTS.
Commenting, Giuseppe Marino, Group CEO, Hitachi Rail said: “Today we have achieved a major milestone towards the final acquisition of Thales GTS, which is a key part of our growth strategy.
“The agreement follows a key commitment to European and UK regulators and is a step forwards in our acquisition of Thales GTS. This solution also will grant the divested business a long-term future.”
The divestment of Hitachi Rail’s mainline signalling business and support functions includes over 550 employees in France, Germany and the UK. Hitachi Rail has said it will retain its other operations in those countries, including its centre for CBTC technology in France and its rolling stock and maintenance business in the UK.
Commenting, Vito Pertosa, President of Mer Mec Group and of its parent company ANGEL Holding said: “We are delighted to have signed this agreement, which represents an important step towards the acquisition of this historic signalling company.
“We are confident that the synergies that will be achieved with Mer Mec Group, led by our CEO Luca Necchi Ghiri, will further increase our competitive advantages, strengthening our worldwide presence.”
Photo credit: Hitachi Rail