Faiveley Transport announced that it had entered into exclusive discussions with a French industrial company for the sale of Faiveley Transport Gennevilliers, the sintered brake material company of Faiveley Transport, representing sales of around EUR 12 million.
The execution of the share purchase agreement could be made once the procedures relating to the information and consultation (“info-consultation”) of the competent employee representative bodies of Faiveley Transport and Faiveley Transport Gennevilliers have been made.
The European Commission gave clearance for the proposed combination between Wabtec and Faiveley Transport, conditional upon a commitment to divest Faiveley Transport Gennevilliers.
The completion of the proposed combination of Faiveley Transport and Wabtec remains only subject to the approval of the purchaser of Faiveley Transport Gennevilliers by the European Commission, which could happen in the coming weeks.
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