Alstom S.A.: Alstom completes the sale of its North American conventional signalling business

Alstom has sold its North American conventional signalling business to Knorr-Bremse AG for a purchase price of approximately USD 690 million1Closing of the sale completes the execution of the company's €2 billion deleveraging plan Alstom will continue to serve the North American signalling market, with communication-based train control (CBTC) and European train control systems (ETCS) solutions September 2, 2024– Alstom, global leader in smart and sustainable mobility,...

Saint-Ouen-Sur-Seine, 02/09/2024 (informazione.it - comunicati stampa - industria)

– Alstom, global leader in smart and sustainable mobility, announces today that it has closed the sale of its North American conventional signalling business to Knorr-Bremse AG, following the binding agreement signed on 19 April 2024.

This divestiture was part of the comprehensive company action plan that Alstom announced on 15 November 2023, aiming at reinforcing its balance sheet. Alstom has delivered all three components of that plan, and it results in the stabilisation of its Investment Grade rating.

Alstom will continue to serve the North American signalling market on different segments, notably with Communications Based Train Control (CBTC) and European Train Control System (ETCS) solutions.

Alstom is a mobility technology leader in the U.S., with a history dating back more than 170 years. Alstom transfers technology and localizes manufacturing to create new, sustainable, high-tech engineering and industrial jobs across the country to serve a growing list of customers that includes major American cities, transit agencies, railroads, and airport transit systems. Its history is steeped in its experience building and repairing rail cars and locomotives, supplying signalling solutions and turnkey transit systems, and providing a complete range of customized services. To date, Alstom has delivered more than 12,000 new or renovated vehicles for U.S. customers and more than 50% of signalling for North America's railroads.

For this transaction, Alstom was accompanied by Crédit Agricole CIB as financial advisor, White & Case LLP as legal advisor, Cleary Gottlieb Steen & Hamilton LLP as antitrust advisor, and Accuracy for financial due diligences.

Alstom™ is a protected trademark of the Alstom Group.

Accounting treatment: the perimeter sold will contribute to Alstom's sales, adjusted EBIT and Free Cash-Flow for the first 5 months of the FY 2024/25. The capital gain will be accounted for as non-operating income below adjusted EBIT in the first half P&L.

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