Siemens' mobility business offers a broad portfolio of rail automation and signalling solutions, rail electrification systems, road traffic technology and IT solutions, among others. The firm is engaged in various business activities in India, including the mobility business.
"@CCI_India approves the combination of Alstom and the mobility business of Siemens," the fair trade regulator said in a tweet Monday.
"This filing concerns the strategic combination of Alstom and the mobility business of Siemens, the ultimate parent of the Siemens group of companies, by way of a contribution of Siemens' mobility business to Alstom in consideration for newly issued Alstom shares (the proposed transaction)," said the joint notice submitted to the Competition Commission of India (CCI) by the two firms.
According to the notice, the transaction broadly concerns the Indian mobility sector, which relates to the supply of solutions, services and products to owners or operators of rail networks including signalling systems and rail electrification solutions for the transportation of passengers and freight.
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