VTG acquisition of Nacco receives final approval

Photo: VTG.
Photo: VTG.

Wagon leasing firm VTG has had its takeover of Nacco approved by the Austrian Antitrust Court.

The development on April 3 follows conditional approval from the German regulator and means that the acquisition has now been approved by all relevant parties.

VTG originally announced plans to acquire all of CIT Rail Holdings’ shares in Nacco in July, 2017.

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The conditional approval granted by Germany’s Federal Cartel Office and the Austrian Antitrust Court aligns with VTG’s offer to sell around 30 per cent of Nacco to third parties in advance of the deal.

VTG CEO Heiko Fischer said: “We are very pleased that we have reached a constructive agreement with the relevant antitrust authorities and we expect to complete the transaction during the second half of 2018.”

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