Wabtec Corporation has completed the acquisition of the remaining public shares of Faiveley Transport by implementing a mandatory squeeze-out procedure at the price of the cash tender offer, a cash payment of 100 euros for each outstanding Faiveley Transport share. As a result, Faiveley Transport’s shares were delisted from Euronext Paris.
In December 2016, Wabtec Corporation announced that it had acquired the majority ownership of Faiveley Transport, after completing the purchase of the Faiveley family’s stake, which represented about 51% of the company’s shares. Wabtec acquired that stake for about USD 212 million in cash and 6.3 million shares of Wabtec common stock.
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