Siemens can now complete on a £1.74 billion buyout of British engineering firm Invensys Rail after receiving clearance by the European Commission.
Investigations by the Commission concluded that Siemens and Invensys Rail have “geographically complementary activities” and that the acquisition would not affect competition in the EU.
The Commission examined the impact the proposed acquisition would have on the markets for the sale of railway signalling projects and products for mainline railway and mass transit in the European Economic Area (EEA) as a whole and in specific Member States where Invensys Rail and Siemens are both active.
The deal can now go ahead after investigators decided that the new merged entity would continue to face competition from other strong competitors, including Alstom, Bombardier, Thales and Ansaldo.
