Wabtec Corporation plans to acquire Faiveley Transport S.A. a global provider of integrated systems and services for the railway industry with annual sales of about USD 1.2 billion.
Wabtec has made an offer to the owners of approximately 51% of Faiveley Transport’s shares for a purchase price of EUR100 per share, payable 25% in cash and 75% in Wabtec preferred stock. Shareholders owning 51% of Faiveley Transport announced they have entered into exclusive discussions with Wabtec, after receiving a binding offer to acquire all Faiveley Transport shares. The total purchase price is about USD 1.8 billion, including assumed debt. Wabtec plans to fund the cash portion of the transaction with cash on hand, existing credit facilities and potentially other debt financing.
Wabtec Corporation, with annual sales of about USD 3.3 billion, is a provider of technology-based products and services for freight rail, passenger transit and other industrial segments.
Photo: http://www.faiveleytransport.com
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