The sale of the Vossloh AG’s Electrical Systems business unit to Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, a wholly-owned subsidiary of Knorr-Bremse AG, was successfully completed on January 31.
On January 20, the German Federal Cartel Office granted the merger control clearance required for the purchase agreement, signed on December 21, 2016. With the completion of the transaction, net financial debt of the Vossloh Group will be reduced by an amount in the order of EUR 45 million.
“The transformation of Vossloh into a rail infrastructure group is at an advanced stage. We are pleased that the sale of the second of the original three business units of the Transportation division has now been completed. Vossloh’s profile as a focused, global and leading supplier of comprehensive solutions for rail infrastructure is be-coming increasingly clear,” Hans M. Schabert, Chairman of the Executive Board of Vossloh said.
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