July 10, 2020 / 10:25 AM / a month ago

EU regulators to decide by July 31 on Alstom, Bombardier deal

FILE PHOTO: A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File Photo

BRUSSELS (Reuters) - European Union antitrust regulators have set a new deadline of July 31 to rule on Alstom’s (ALSO.PA) bid for Bombardier Inc’s (BBDb.TO) transport business after the French TGV high-speed train maker offered to sell assets to address competition concerns.

The European Commission, which posted the new deadline on its site on Friday, will now seek feedback from rivals and customers of both companies before deciding whether to accept the package or demand more in line with its procedures.

The EU competition enforcer could also open a four-month long investigation if it has serious doubts.

Alstom on Thursday offered to sell its Reichshoffen regional train factory in eastern France, its regional train unit Coradia Polyvalent, and a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany.

It also offered to provide access to some products within Bombardier’s train control systems and signalling units.

The proposed assets are equivalent to the size of a medium-sized player in Europe, people familiar with the matter said.

Alstom proposed its bid in February for Montreal-based Bombardier’s rail business and EU antitrust authorities were expected to demand concessions to approve the deal.

Reporting by Foo Yun Chee. Editing by Jane Merriman

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